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...

On the basis of data from the Historical Monetary Statistics-project by Norges Bank, the present paper serves a threefold purpose. In the first place it gives an overview of financial crisis in Norway from her independence from Denmark in 1814 till present times. Secondly, historical business...

The present paper seeks to investigate the importance of financial instability during four banking crises, with focus on the small open economy of Norway. The crises elaborated on are the Post First world war crisis of the early 1920s, the mid 1920s Monetary crisis, the Great Depression of the...