Rapid growth in productivity combined with increasing wage dispersion in some countries, notably Anglo-Saxon, has been the subject of numerous studies. The main hypothesis in the literature is that an increased skill premium provides a link between productivity growth and inequality. If this...

Several small open economies switched to inflation targeting during the 1990s, thereby giving up various forms of exchange rate targeting in favour of flexible exchange rates. Norway did the same early in 2001, and has thereafter experienced highly varying nominal exchange rates with consumer...

The New Keynesian Phillips Curve (NKPC) has become the benchmark model for understanding inflation in modern monetary economics. One reason for the popularity is the microfoundation of the model, which decomposes agents' behaviour into price adjustments and deviations of the price level from its...

Recently, several authors have questioned the evidence claimed by Galí and Gertler (1999) and Galí, Gertler and López-Salido (2001) that a hybrid version of the New Keynesian Phillips Curve approximates European and US inflation dynamics quite well. We re-examine the evidence using...

During the 1950s and 1960s, a coherent system of economic policies was implemented in Norway. The article analyses the origins and functioning of this Norwegian model and shows how it broke down under the influence of both external and internal pressures from the mid-1970s onwards. By the early...

The expert contributors gathered here approach underdevelopment and inequality from different evolutionary perspectives. It is argued that the Schumpeterian processes of ‘creative destruction' may take the form of wealth creation in one part of the globe and wealth destruction in another. Case...

The degree of exchange rate pass-through to domestic goods prices has important implications for monetary policy in small open economies with floating exchange rates. Evidence indicates that pass-through is faster to import prices than to consumer prices. Price setting behaviour in the...

Net migration has become the main factor driving Norwegian population growth. This article explores how changes in regulations and immigration policies have affected gross immigration to Norway. As in previous econometric studies, it finds that income differences and income distribution have a...

Cross-national comparisons of industrialized countries indicate that countries with a high defense burden (military spending as a share of GDP) tend to have lower rates of economic growth than do countries with a low defense burden. On the other hand, longitudinal data for several industrial...