Blar i Handelshøyskolen BI på dokumenttype "Working paper"
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China's revival
(Working Paper Series;1/2009, Working paper, 2009)The purpose of this paper is to reflect on China's unique economic experience over the last three decades. What lessons can be learned from China’s blend of visible central guidance at the macro level and fierce competition ... -
China’s Savings Multiplier
(CAMP Working Paper Series;4/2013, Working paper, 2013)China’s growth is characterized by massive capital accumulation, made possible by high and increasing domestic savings. In this paper we develop a model with the aim of explaining why savings rates have been high and ... -
Climate Risk and Commodity Currencies
(CAMP Working Paper Series;10/2020, Working paper, 2020-12-03)The positive relationship between real exchange rates and natural resource income is well understood and studied. However, climate change and the transition to a lower-carbon economy now challenges this relationship. We ... -
Commodity Futures and Forecasting Commodity Currencies
(CAMP Working Paper Series;7/2016, Working paper, 2016)This paper analyzes the extent to which information in commodity futures markets is useful for out-of-sample forecasting of commodity currencies. In the earlier literature, commodity price changes are documented to be weak ... -
Commodity prices and fiscal policy design: Procyclical despite a rule
(CAMP Working Paper Series;5/2015, Working paper, 2015)We analyse if the adoption of a fiscal spending rule insulates the domestic economy from commodity price fluctuations in a resource-rich economy. To do so we develop a time-varying Dynamic Factor Model, in which we allow ... -
Common Trends and Country Specific Heterogeneities in Long-Run World Energy Consumption
(CAMP Working Paper Series;01/2024, Working paper, 2024-01-11)We employ a semiparametric functional coefficient panel approach to allow an economic relationship of interest to have both country-specific heterogeneity and a common component that may be nonlinear in the covariate and ... -
Comparing the Forecasting Performances of Linear Models for Electricity Prices with High RES Penetration
(CAMP Working Paper Series;2, Working paper, 2018-01)This paper compares alternative univariate versus multivariate models, probabilistic versus Bayesian autoregressive and vector autoregressive specifications for hourly day-ahead electricity prices, with and without ... -
Competition with local network externalities
(CREAM Publications;10/2010, Working paper, 2010)Local network externalities are present when the utility of buying from a firm not only depends on the number of other customers (global network externalities), but also on their identity and / or characteristics. We ... -
Components of Uncertainty
(CAMP Working Paper Series;4/2017, Working paper, 2017)Uncertainty is acknowledged to be a source of economic fluctuations. But, does the type of uncertainty matter for the economy's response to an uncertainty shock? This paper offers a novel identfication strategy to ... -
Corporate Governance Before There Was Corporate Law
(CCGR Working Paper;3/2011, Working paper, 2011)We study 79 sets of bylaw provisions adopted by Norwegian corporations in a free contracting environment before Norway got its first corporate law. The firms in our sample are publicly traded companies in the period ... -
The Correspondence Principle and Structural Stability in Non-Maximum Systems
(Discussion Paper, Working paper, 2004)The correspondence principle suggests a link between asymptotic stability properties of equilibria of economic models and the equilibrium response to data that describe the model or the model environment. However, this ... -
A Cost Perspective on Televised Sport. “The Optimal Economic Utilisation of Sport’s Media Rights"
(Discussion Paper, Working paper, 2003)Sport media rights have most commonly been sold to television companies that themselves have produced the sport programmes. Usually all games from a league or an association were sold in one bundle to one buyer, for example ... -
De gamle er eldst
(CME Working Papers;8/2013, Working paper, 2013)Dette arbeidsnotatet setter sammen brevene fra årets seks siste måneder. Det inneholder følgende brev: Bør Norge ta initiativet til en ny Marshallplan? Den uvillige og den overivrige Er velferdsstaten et spleiselag? ... -
Deadly Variation: The Effect of Temperature Variability on Mortality
(CAMP Working Paper Series;01/2020, Working paper, 2020-02-02)While economists have focused on the effect of mean temperatures on mortality, climate scientists have emphasized that global warming might not only lead to an increase in mean temperatures, but can potentially also affect ... -
Den keynesianske revolusjonen 70 år etter: Et tilbakeblikk
(CME Working paper series;7/2006, Working paper, 2006)For 70 år siden publiserte John Maynard Keynes boken The General Theory of Employment, Interest, and Money, en bok som ble oppstarten til den keynesianske revolusjon i den økonomiske vitenskap og fødselen til makroøkonomi ... -
Density Forecasts with MIDAS Models
(CAMP Working Paper Series;3/2014, Working paper, 2014)In this paper we derive a general parametric bootstrapping approach to compute density forecasts for various types of mixed-data sampling (MIDAS) regressions. We consider both classical and unrestricted MIDAS regressions ... -
Do central banks respond timely to developments in the global economy?
(CAMP Working Paper Series;8/2016, Working paper, 2016)Our analysis suggests; they do not! To arrive at this conclusion we construct a real-time data set of interest rate projections from central banks in three small open economies; New Zealand, Norway, and Sweden, and analyze ... -
Do Central Banks Respond to Exchange Rate Movements? A Markov-Switching Structural Investigation
(CAMP Working Paper Series;9/2013, Working paper, 2013)Do central banks respond to exchange rate movements? According to Lubik and Schorfheide (2007) who estimate structural general equilibrium models with monetary policy rules, the answer is "Yes, some do". However, their ... -
Do Central Banks Respond to Exchange Rate Movements? A Markov-Switching Structural Investigation of Commodity Exporters and Importers
(CAMP Working Paper Series;12/2020, Working paper, 2021-01-25)We analyse whether central banks in small open commodity exporting and importing countries respond to exchange rate movements, taking into consideration that there may be structural changes in parameters and volatility ... -
Does forecast combination improve Norges Bank inflation forecasts?
(CAMAR Working Paper Series;2/2010, Working paper, 2010)We develop a system that provides model-based forecasts for inflation in Norway. We recursively evaluate quasi out-of-sample forecasts from a large suite of models from 1999 to 2009. The performance of the models are then ...