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Nr 1/2010 og nr 2/2010 ble utgitt under navnet CAMAR Working Paper Series med ISSN 1892-2198. Fom nr 1/2011 skiftet serien navn til CAMP Working Paper Series med ISSN 1893-4811.

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  • Accounting for Individual-Specific Heterogeneity in Intergenerational Income Mobility 

    Chang, Yoosoon; Durlauf, Steven N.; Hu, Bo; Park, Joon Y. (CAMP Working Paper Series;03/2024, Working paper, 2024-02-21)
    This paper proposes a fully nonparametric model to investigate the dynamics of intergenerational income mobility. In our model, an individual’s income class probabilities depend on parental income in a manner that accommodates ...
  • The Influence of Fiscal and Monetary Policies on the Shape of the Yield Curve 

    Chang, Yoosoon; Gómez-Rodríguez, Fabio; Matthes, Christian (CAMP Working Paper Series;02/2024, Working paper, 2024-01-23)
    We investigate the influence of the U.S. government’s spending and taxation decisions, along with the monetary policy choices made by the Federal Reserve, on the dynamics of the nominal yield curve. Aggregate government ...
  • Common Trends and Country Specific Heterogeneities in Long-Run World Energy Consumption 

    Chang, Yoosoon; Choi, Yongok; Kim, Chang Sik; Miller, J. Isaac; Park, Joon Y. (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 ...
  • Business Cycle and Health Dynamics during the COVID-19 Pandemic. A Scandinavian Perspective 

    Bjørnland, Hilde C.; Jensen, Malin C.; Thorsrud, Leif Anders (CAMP Working Paper Series;15/2023, Working paper, 2023-12-21)
    We use a unique measure of daily economic activity and manually audited nonpharmaceutical intervention (NPI) indexes for Noway and Sweden to model the joint dynamic interaction between COVID-19 policy, health, and business ...
  • Risky news and credit market sentiment 

    Labonne, Paul; Thorsrud, Leif Anders (CAMP Working Paper Series;14/2023, Working paper, 2023-12-14)
    The nonlinear nexus between financial conditions indicators and the conditional distribution of GDP growth has recently been challenged. We show how one can use textual economic news combined with a shallow Neural Network ...
  • Fiscal Policy Regimes in Resource-Rich Economies 

    Bjørnland, Hilde C.; Casarin, Roberto; Lorusso, Marco; Ravazzolo, Francesco (CAMP Working Paper Series;13/2023, Working paper, 2023-10-21)
    We analyse fiscal policy in resource-rich economies using a novel Bayesian regime-switching panel model. The identified regimes capture pro- or countercyclical fiscal behaviour, while the switches between the regimes have ...
  • Uncertainty and the Term Structure of Interest Rates 

    Cross, Jamie L.; Poon, Aubrey; Zhu, Dan (CAMP Working Paper Series;12/2023, Working paper, 2023-10-13)
    We present a new stylized fact about the link between uncertainty and the term structure of interest rates: Unexpectedly heightened uncertainty elicits a lower, steeper, and flatter yield curve. This result is established ...
  • Monetary policy shocks and exchange rate dynamics in small open economies 

    Terrell, Madison; Haque, Qazi; Cross, Jamie L.; Tchatoka, Firmin Doko (CAMP Working Paper Series;10/2023, Working paper, 2023-06-29)
    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 ...
  • Bayesian Mode Inference for Discrete Distributions in Economics and Finance 

    Cross, Jamie L.; Hoogerheide, Lennart; Labonne, Paul; Van Dijk, Herman K. (CAMP Working Paper Series;11/2023, Working paper, 2023-06-27)
    Detecting heterogeneity within a population is crucial in many economic and financial applications. Econometrically, this requires a credible determination of multimodality in a given data distribution. We propose a ...
  • A Bayesian DSGE Approach to Modelling Cryptocurrency 

    Asimakopoulos, Stylianos; Lorusso, Marco; Ravazzolo, Francesco (CAMP Working Paper Series;09/2023, Working paper, 2023-09-21)
    We develop and estimate a DSGE model to evaluate the economic repercussions of cryptocurrency. In our model, cryptocurrency offers an alternative currency option to government currency, with endogenous supply and demand. ...
  • The Drivers of Emission Reductions in the European Carbon Market 

    Bjørnland, Hilde C.; Cross, Jamie L.; Kapfhammer, Felix (CAMP Working Paper Series;08/2023, Working paper, 2023-09-17)
    This paper studies the drivers of emission reductions in the carbon market of the European Union Emission Trading System (EU ETS) since its inception in 2005. We introduce a novel empirical framework that facilitates the ...
  • The interplay between monetary and fiscal policy in a small open economy 

    Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (CAMP Working Paper Series;07/2023, Working paper, 2023-08)
    We develop a theory for the optimal interaction between monetary and fiscal policy. While one might initially think that monetary and fiscal policy should pull in the same direction, we show within a simple model that this ...
  • Monitoring multicountry macroeconomic risk 

    Korobilis, Dimitris; Schröder, Maximilian (CAMP Working Paper Series;06/2023, Working paper, 2023-08-03)
    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 ...
  • Probabilistic Quantile Factor Analysis 

    Korobilis, Dimitris; Schröder, Maximilian (CAMP Working Paper Series;05/2023, Working paper, 2023-08-03)
    This paper extends quantile factor analysis to a probabilistic variant that incorporates regularization and computationally efficient variational approximations. By means of synthetic and real data experiments it is ...
  • Where do they care? The ECB in the media and inflation expectations 

    Larsen, Vegard Høghaug; Maffei-Faccioli, Nicolò; Pagenhardt, Laura (CAMP Working Paper Series;04/2023, Working paper, 2023-05-10)
    This paper examines how news coverage of the European Central Bank (ECB) affects consumer inflation expectations in the four largest euro area countries. Utilizing a unique dataset of multilingual European news articles, ...
  • Oil and the Stock Market Revisited: A mixed functional VAR approach 

    Bjørnland, Hilde C.; Chang, Yoosoon; Cross, Jamie L. (CAMP Working Paper Series;03/2023, Working paper, 2023-03-13)
    This paper proposes a new mixed vector autoregression (MVAR) model to examine the relationship between aggregate time series and functional variables in a multivariate setting. The model facilitates a re examination of the ...
  • Oil Prices Uncertainty, Endogenous Regime Switching, and Inflation Anchoring 

    Chang, Yoosoon; Herrera, Ana María; Pesavento, Elena (CAMP Working Paper Series;02/2023, Working paper, 2023-02-27)
    Using a novel approach to model regime switching with dynamic feedback and interactions, we extract latent mean and volatility factors in oil price changes. We illustrate how the volatility factor constitutes a useful ...
  • The Economic Consequences of Effective Carbon Taxes 

    Kapfhammer, Felix (CAMP Working Paper Series;01/2023, Working paper, 2023-01)
    This paper studies the economic consequences of carbon taxes at the macroeconomic and sectoral level. I propose a novel monthly measure of effective carbon tax rates, which, in contrast to the measures used by the existing ...
  • Dominant Drivers of National Inflation 

    Ditzen, Jan; Ravazzolo, Francesco (CAMP Working Paper Series;08/2022, Working paper, 2022-12-29)
    For western economies a long-forgotten phenomenon is on the horizon: rising inflation rates. We propose a novel approach christened D2ML to identify drivers of national inflation. D2ML combines machine learning for model ...
  • The effect of rising energy prices amid geopolitical developments and supply disruptions 

    Bjørnland, Hilde C. (CAMP Working Paper Series;07/2022, Working paper, 2022-12)
    Much research has documented how changes in supply and demand cause commodity price fluctuations, with subsequent effects on the global economy. This paper puts the recent energy price surge in perspective amid geopolitical ...

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