Within the framework of Keynesian economic theory it is widely taken for granted that short term output fluctuations are mirrored in corresponding fluctuations in prices. By examining data on prices and output for a small open raw material based economy, in this case Norway, 1830-2006, this...

This manuscript presents a new combined annual cost of living and consumer price index for Norway covering the period 1492-2017. When previous Norwegian historical consumer price indices partly were constructed on the basis of very limited data, the new historical index is constructed on a...

The present paper seeks to explain how ethics and values in public policy can be result of different historical contingencies. Specifically, it explains the accomplishment of petroleum resource management in Norway. The main argument is that the success of this policy is an understanding of the...

The paper offers a chronology of financial crises in Norway from her independence in 1814 till present times. Firstly, business cycles, covering almost two hundred years of economic history are mapped. These reveal years of crises in the real economy. These seem to coincide with most of the...

On the basis of available sources the present paper seeks to map entrepreneurial industrial activities the Norwegian puritan revivalist Hans Nielsen Hauge (1771-1824) was involved in and quantify his financial activities. It also tries to map entrepreneurial activities by his followers. The...

In the 1870s the three Scandinavian countries Denmark, Norway and Sweden formed the Scandinavian Currency Union. Both the adoption of gold and the monetary union were supposed to lead to price stability in and between these countries. By drawing on new indices of consumer prices the present...