As financial stability has gained focus in economic policymaking, the demand for analyses of financial stability and the consequences of economic policy has increased. Alternative macroeconomic models are available for policy analyses, and this paper evaluates the usefulness of some models from...

The hypothesis of market power in the Norwegian primary aluminium industry is tested using plant-level panel data. Economies of scale are found to be present, and Norwegian aluminium plants charge a procyclical price-cost margin that significantly exceeds zero. Consequently, the simple...

A framework for analyzing substitution and scale properties, and technical change from plant-level panel data is presented. Focus is on comparing the constant and random coefficient specification of the substitution and scale parameters and investigating the potential variation of the parameters...

This paper analyses how changes in market structure have affected the margins (measured by the Lerner index) of Norwegian aluminium plants. Instead of showing the expected negative trend, due to increased competition internationally, the margins are found to move procyclically around a constant...

We evaluate consequences of some important assumptions ofthe perpetual inventory method of capital stock calculation under geometric depreciation. The data are plant-level panel data from the Norwegian manufacturing statistics, containing independent measures of capital stocks and gross...

This paper analyses the importance of scale economies by means of unbalanced plant-level panel data from three Norwegian manufacturing industries. Focus is on heterogeneous technologies, and unlike most previous work on micro data, the model description includes heterogeneity in both the scale...

In most OECD-countries, labour demand has shifted from unskilled to skilled over time. Many analyses of this phenomenon focus on either the effect of technical change, capital-skill complementarity or labour-labour substitution. We present a more general analysis of labour demand in Norwegian...

Debt-servicing capacity is a function of both available cash flow and the size of obligatory expenses. We use household level information to calculate normal expenses that cover food, other general consumption, electricity and fixed housing expences, as well as interest expenses. We link this to...