We investigate the impact of macro-related uncertainty on bank lending in Norway. We show that an increase in general macroeconomic uncertainty reduces bank lending. Importantly, however, we show that this effect is largely ...

The paper introduces a new dynamic panel model for large data sets of time series, each of them characterized by a series-specific Markov switching process. By introducing a neighbourhood system based on a network ...

We analyze the pass-through of monetary policy measures to lending rates to fi rms and households in the euro area using a novel bank-level dataset. Banks characteristics such as the capital ratio, the exposure to sovereign ...

We study what happens to identified shocks and to dynamic responses when the structural model features q disturbances and m endogenous variables, q ≤ m, but only m1 < q variables are used in the empirical model. Identified ...

This paper investigates the relationship between monetary policy shocks and real exchange rates in several small open economies. To that end, we develop a novel identification strategy for time-varying structural vector ...

We propose a multicountry quantile factor augmeneted vector autoregression (QFAVAR) to model heterogeneities both across countries and across characteristics of the distributions of macroeconomic time series. The presence ...

Dette arbeidsnotatet setter sammen brevene fra fjorårets seks siste måneder: Kina er tjent med den valutapolitikken landet nå har. Kina trenger en gradvis liberalisering av det innenlandske kredittmarkedet. Denne ...

Forestillingen om at økonomisk vekst først ville føre til økende inntektsforskjeller og deretter minkende, holder ikke. Teknologiske fremskritt og tiltakende globalisering bidrar til større inntektsforskjeller. Utdanning ...