Showing 1 - 10 of 222
This article surveys the degree of central bank independence in Norway between 1945 and 1970. By comparing the developments in Norway with those of Sweden and the United Kingdom, it is shown that the Norwegian central bank had less room for maneuver than in the other countries. In spite of a...
Persistent link: https://www.econbiz.de/10009391594
Persistent link: https://www.econbiz.de/10004904475
Persistent link: https://www.econbiz.de/10004906006
Persistent link: https://www.econbiz.de/10004261660
Persistent link: https://www.econbiz.de/10004283033
We investigate whether a decline in real interest rates and the US dollar contribute to higher commodity prices, and whether commodity prices tend to display overshooting behavior in response to changes in especially real interest rates. We analyze the behavior of a broad range of real commodity...
Persistent link: https://www.econbiz.de/10005481431
We develop a system that provides model-based forecasts for inflation in Norway. Forecasts are recursively evaluated from 1999 to 2008. The performance of the models over this period is then used to derive weights that are used to combine the forecasts. Our results indicate that model...
Persistent link: https://www.econbiz.de/10005481434
We estimate the interdependence between US monetary policy and the S&P 500 using structural VAR methodology. A solution is proposed to the simultaneity problem of identifying monetary and stock price shocks by using a combination of short-run and long-run restrictions that maintains the...
Persistent link: https://www.econbiz.de/10005481436
This paper examines the predictive power of weather for electricity prices in day-ahead markets in real time. We find that next-day weather forecasts improve the forecast accuracy of day-ahead electricity prices substantially, suggesting that weather forecasts can price the weather premium....
Persistent link: https://www.econbiz.de/10005481438
Real Business Cycle (RBC) and Dynamic Stochastic General Equilibrium (DSGE) methods have become essential components of the macroeconomist’s toolkit. This literature review stresses recently developed techniques for computation and inference, providing a supplement to the Romer (2006)...
Persistent link: https://www.econbiz.de/10005481440