Blar i BI Open på forfatter "Bjørnland, Hilde C."
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Oil and macroeconomic (in)stability
Bjørnland, Hilde C.; Larsen, Vegard H.; Maih, Junior (CAMP Working Paper Series;No. 6/2017, Working paper, 2017-11)We analyze the role of oil price volatility in reducing U.S. macroeconomic insta- bility. Using a Markov Switching Rational Expectation New-Keynesian model we revisit the timing of the Great Moderation and the sources of ... -
Oil and the Stock Market Revisited: A mixed functional VAR approach
Bjørnland, Hilde C.; Chang, Yoosoon; Cross, Jamie L. (CAMP Working Paper Series;03/2023, Working paper, 2023-03-13)This paper proposes a new mixed vector autoregression (MVAR) model to examine the relationship between aggregate time series and functional variables in a multivariate setting. The model facilitates a re examination of the ... -
The Price Responsiveness of Shale Producers: Evidence From Micro Data
Aastveit, Knut Are; Bjørnland, Hilde C.; Gundersen, Thomas S. (CAMP Working Paper Series;05/2021, Working paper, 2021-09-11)Shale oil producers respond positively and significantly to favourable oil price signals. This finding is established using a novel proprietary data set consisting of more than 200,000 shale wells across ten U.S. states ... -
Ringvirkninger: Norsk økonomi og olje
Bjørnland, Hilde C.; Thorsrud, Leif Anders (CME Working Papers;7/2013, Working paper, 2013)Norsk økonomi går godt. En viktig grunn til dette er petroleumsnæringens bidrag til økt produktivitet i resten av økonomien. Men flere varsellamper blinker. Den senere tid har produktivitetsveksten vært avtagende. Høyere ... -
Supply Flexibility in the Shale Patch: Evidence from North Dakota
Bjørnland, Hilde C.; Nordvik, Frode Martin; Rohrer, Maximilian (CAMP Working Paper Series;2/2017, Working paper, 2017)We analyse if output exibility in oil production depends on the extraction technology. In particular, we ask to what extent shale oil producers respond to price incentives by changing completion of new wells as well as oil ... -
Supply flexibility in the shale patch: Evidence from North Dakota
Bjørnland, Hilde C.; Nordvik, Frode Martin; Rohrer, Maximilian (Journal article; Peer reviewed, 2021)This paper provides new results to the literature, showing that output flexibility in oil production depends on the extraction technology. In particular, constructing a novel well-level monthly production dataset covering ... -
Supply flexibility in the shale patch: Facts, no fiction
Bjørnland, Hilde C. (CAMP Working Paper Series;08/2019, Working paper, 2019-11-18)In two recent papers, Kilian and Zhou (2019) and Kilian (2019) have criticized Bjørnland, Nordvik, and Rohrer (2017), arguing that our finding of a large price elasticity of output for shale producers is not credible. We ... -
The Shale Oil Boom and the U.S. Economy: Spillovers and Time-Varying Effects
Bjørnland, Hilde C.; Zhulanova, Julia (CAMP Working Paper Series Paper No. 8/2018;, Working paper, 2018-10-16)We analyze if the transmission of oil price shocks in the U.S. economy has changed as a result of the shale oil boom. To do so we allow for spillovers at the state level, as well as aggregate country level effects. We ... -
The world is not enough! Small open economies and regional dependence
Aastveit, Knut Are; Bjørnland, Hilde C.; Thorsrud, Leif Anders (CAMP Working Paper Series;3/2011, Working paper, 2011)This paper bridges the new open economy factor augmented VAR (FAVAR) studies with the recent findings in the business cycle synchronization literature emphasizing the importance of regional factors. That is, we estimate ... -
What drives oil prices? Emerging versus developed economies
Aastveit, Knut Are; Bjørnland, Hilde C.; Thorsrud, Leif Anders (CAMP Working Paper Series;2/2012, Working paper, 2012)We analyze the importance of demand from emerging and developed economies as drivers of the real price of oil over the last two decades. Using a factor-augmented vector autoregressive (FAVAR) model that allows us to ...