Mye av de økonomiske ulikhetene i USA skyldes finansmarkedenes virkemåte, og hvordan toppledere mer generelt har klart å ta ut en stadig økende andel av verdiskapningen, hevder professor Joseph E. Stiglitz i boken The Price ...

Aarbeidsnotatet er satt sammen av Månedsbrevet til Arne Jon Isachsen for juli-desember 2007. Månedsbrevet består av 6 ulike artikler.

This paper shows entropic tilting to be a flexible and powerful tool for combining mediumterm forecasts from BVARs with short-term forecasts from other sources (nowcasts from either surveys or other models). Tilting ...

Most theories of voter behavior predict that electoral participation will be higher in elections where more is at stake. We test this prediction by studying how participation is affected by exogenous variation in local ...

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 ...

We examine the association between a firm’s cash holdings and its performance. Using a large sample of private companies, we find that the importance of cash for a firm’s performance varies substantially with its size ...

We study how owners trade off the costs and benefits of establishing a board in a historical setting, where boards are optional and authority over corporate decisions can be freely allocated across the general meeting, the ...

In this paper I construct a daily business cycle index based on quarterly GDP and textual information contained in a daily business newspaper. The newspaper data is decomposed into time series representing newspaper topics ...