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dc.contributor.authorKuitunen, Laura Johanna
dc.date.accessioned2017-06-06T08:24:32Z
dc.date.available2017-06-06T08:24:32Z
dc.date.issued2016
dc.identifier.urihttp://hdl.handle.net/11250/2444387
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Economics - Handelshøyskolen BI, 2016nb_NO
dc.description.abstractIn this master thesis, I evaluate empirically the importance of foreign financial shocks for explaining business cycle fluctuations and monetary policy stance in Norway. These shocks are a U.S. monetary policy shock and a U.S. based financial uncertainty shock, which in some of the literature are taken to represent the global financial cycle. To this end, I construct a set of structural VAR models, some of them identified recursively, some identified outside the model resorting to the literature of high-frequency identification of monetary policy shocks. The Norwegian responses of interest are in the GDP or industrial production index, inflation, interbank interest rate and the exchange rate. I find that the financial uncertainty shock has a limited and non-robust capacity to impact the macroeconomic performance of the Norwegian economy, while the monetary shock has potential to evoke notable and statistically significant short-term responses.nb_NO
dc.language.isoengnb_NO
dc.publisherBI Norwegian Business Schoolnb_NO
dc.subjectsamfunnsøkonominb_NO
dc.subjecteconomicsnb_NO
dc.titleThe Impact of Foreign Financial Shocks on the Norwegian Macroeconomy : A quest for causal inferencenb_NO
dc.typeMaster thesisnb_NO


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