We address the issue of how the deregulation of financial markets has affected the monetary transmission mechanism in Norway. By estimating a dynamic system of money, credit, real income and inflation during a period of fundamental structural changes in monetary policy and financial markets we...

In a sample that contains annual prices of 39 selected commodities in Britain and Germany in the period 1850 to 1913 substantial evidence of well integrated commodity markets is found. The degree of integration is not universal across markets and varies over time, however. Absolute price...

This paper presents estimates of total factor productivity growth for 55 manufacturing industries over the period 1927 to 1959. The long-run rate of growth in TFB is about 1 per cent per year for total manufacturing, but there are considerable variations in TFP growth rates acros industries and...

New indices of manufacturing output in Norway for the years 1927 to 1948 are presented. The new output estimates show a trend rate of growth of output for the period 1927-1939 that is 0.8 per cent higher per year than the growth rate based on the official index. These findings reinforce the view...