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dc.contributor.authorOlsen, Helene
dc.contributor.authorWieslander, Harald
dc.date.accessioned2020-03-20T15:24:47Z
dc.date.available2020-03-20T15:24:47Z
dc.date.issued2020-03
dc.identifier.issn1892-2198
dc.identifier.urihttps://hdl.handle.net/11250/2647912
dc.description.abstractWe search for leading determinants of financial instability in Norway using a signaling approach, and examine how these respond to a monetary policy shock with the use of structural VAR models. We find that the wholesale funding ratio and gap, credit-to-GDP gap, house price-to-income ratio and gap, and credit growth provide good signals of future financial instability. Following a contractionary monetary policy shock, the credit-to-GDP gap and house price-to-income ratio decrease significantly. The implication of our findings is that the central bank can respond to an increase in these indicators by increasing the interest rate, which in turn will decrease the indicators and thereby the probability of financial distress.en_US
dc.language.isoengen_US
dc.publisherBI Norwegian Business Schoolen_US
dc.relation.ispartofseriesCAMP Working Paper Series;02/2020
dc.subjectFinancial stabilityen_US
dc.subjectMonetary policyen_US
dc.subjectStructural VARen_US
dc.subjectSignaling Approachen_US
dc.titleThe Impact of Monetary Policy on Leading Variables for Financial Stability in Norwayen_US
dc.typeWorking paperen_US
dc.source.pagenumber58en_US
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