Climate change and the transition to a low-carbon economy affect the Norwegian and global economy in many ways. To gain greater insight into how these changes affect the Norwegian economy, Norges Bank has asked a selection of Norwegian enterprises on three occasions in recent years how...

Climate change and the transition to a low-carbon economy affect the Norwegian and global economy in many ways. To gain greater insight into how these changes affect the Norwegian economy, Norges Bank has asked a selection of Norwegian enterprises on three occasions in recent years how...

Norges Banks regionale nettverk gir viktig informasjon om utviklingen i norsk økonomi. Vi viser at nettverkets tall for faktisk og forventet vekst i produksjon og sysselsetting gir gode anslag for produksjons- og sysselsettingsveksten i nasjonalregnskapet 1-2 kvartaler frem. Analysene tyder...

This paper presents a framework for quantifying uncertainty around point forecasts for GDP, inflation and house prices in Norway. The framework combines quantile regressions using a broad set of uncertainty indicators with a skewed t-distribution, allowing for time-variation and asymmetry in the...

In this paper we describe the newly developed System for Model Analysis in Real Time (SMART) used for forecasting and model analysis in Norges Bank. While the long-term goal is to include all empirical models used in forecasting in Norges Bank, the emphasis in this paper will be on the empirical...

By analyzing housing data from the period 1850 to 2019 in Norway, we find evidence of downward nominal house price rigidity. More specifically, we document that there is a marked fraction of repeat-sales housing transactions with a zero nominal price change and show that this fraction increases...

In this paper the effects of a changing age distribution on aggregate consumption are analysed. This is done by estimating a Norwegian consumption function which controls for age structure effects. The model is estimated on quarterly time series data from 1968(3) to 1998(4). The results show...

Annual house price indices for four Norwegian cities are presented for the period from 1819 to 1989. The indices are constructed on the basis of nominal housing transaction prices compiled from the real property registers of the cities. Existing Norwegian house prices indices generally cover a...

In this paper the effects on aggregate consumption of changes in the age distribution of the population are analysed empirically. Economic theories predict that age influences individuals' saving and consumption behaviour. Despite this, age structure effects are rarely controlled for in...

Some consumer prices are changed often, while others are changed infrequently. In this memo, I investigate whether Norwegian consumer prices that are changed often - called flexible prices in this memo - and prices that are changed relatively infrequently - sticky prices - have different...