Browsing Statistisk sentralbyrås publikasjonsserier / Published by Statistics Norway by Subject "JEL classification: E31"
Now showing items 1-17 of 17
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Calculating the real return of the Norwegian Government Pension Fund Global by alternative measures of the deflator
(Discussion papers;775, Working paper, 2014-04)According to the present guidelines for fiscal policy, the use of oil revenues in the Norwegian economy should over time equal the expected real return on the Government Pension Fund Global (GPFG). An important question ... -
A conceptual note on the aggregation of international prices using index numbers
(Discussion Papers;No. 656, Working paper, 2011)Abstract: Aggregation of international prices in empirical work is generally based on well known index number formulas. However, a common practice applying such formulas is the use of price indices rather than price levels ... -
Does the CPI mirror costs-of-living? Engel's law suggests not in Norway
(Discussion Papers;No. 368, Working paper, 2004)There is considerable interest in identifying the magnitude of the difference between increases in CPI and costs-of-living, and this article uses the technique proposed by Hamilton (2001) to measure this discrepancy for ... -
Estimating core inflation : the role of oil price shocks and imported inflation
(Discussion Papers;No. 200, Working paper, 1997)This paper calculates core inflation, by imposing long run restrictions on a structural vector autoregression (VAR) model containing the growth rate of output, inflation and oil prices. Core inflation is identified as ... -
Evaluating multilateral price indices in a dynamic item universe
(Discussion papers;914, Working paper, 2019-09)Statistics Norway has a long history of using scanner data in the Consumer Price Index (CPI). The early research – in Norway as well as internationally – was focused on supermarket data which consists largely of stable ... -
Exchange rate pass-through in a Small Open Economy
(Discussion Papers;No. 429, Working paper, 2005)Abstract: 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, ... -
Expectations in export price formation tests using cointegrated VAR models
(Discussion Papers;No. 283, Working paper, 2000)The formation of export prices is an area in which the linear quadratic adjustment cost (LQAC) model under rational expectations may be relevant in practice. This paper evaluates the empirical performance of the LQAC-model ... -
Increased price markup from union coordination : OECD panel evidence
(Discussion Papers;No. 470, Working paper, 2006)Abstract: Existing literature have focused on the influence of institutional factors on wage determination when explaining the prolonged cross-country differences in unemployment. Although coordination of wage bargaining ... -
The New Keynesian Phillips curve : does it fit Norwegian data?
(Discussion Papers;No. 652, Working paper, 2011)Abstract: We evaluate the empirical performance of the new Keynesian Phillips curve (NKPC) for a small open economy using cointegrated vector autoregressive models, likelihood based methods and general method of moments. ... -
Rational expectations in price setting. Tests based on Norwegian export prices
(Discussion Papers;No. 226, Working paper, 1998)This paper uses imperfect competition as a basis for modelling the export price for an aggregated commodity produced by the Norwegian private mainland economy. The long run solution is analysed using a cointegration ... -
The cost-of-living index with trade barriers. Theory and evidence
(Discussion papers;751, Working paper, 2013-09)The standard cost-of-living index hinges on the assumption that there is free trade. Applying it to situations where trade barriers are present yields biased results with respect to a true cost-of-living index. Import price ... -
The importance of the distribution sector for exchange rate pass-through in a small open economy. A large scale macroeconometric modelling approach
(Discussion papers;731, Working paper, 2013-01)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 passthrough is faster to import ... -
The New Keynesian Phillips Curve for a small open economy
(Discussion Papers;No. 460, Working paper, 2006)Abstract: 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 ... -
The New Keynesian Phillips Curve revisited
(Discussion Papers;No. 500, Working paper, 2007)Abstract: 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 ... -
The Norwegian productivity puzzle - not so puzzling after all?
(Discussion papers;796, Working paper, 2015-02)The Norwegian productivity puzzle is rooted in three seemingly contradictory “facts”: First, Norway is one of the most productive OECD countries. Second, Norway has experienced high growth in productivity. Third, Norway ... -
Trade liberalisation and import price behaviour : the case of textiles and wearing apparels
(Discussion Papers;605, Working paper, 2010)Previous studies on the relationship between exchange rates and traded goods prices typically find evidence of incomplete pass-through, usually explained by pricing-to-market behaviour. Although economic theory predicts ... -
Will it float? The New Keynesian Phillips curve tested on OECD panel data
(Discussion Papers;No. 463, Working paper, 2006)Abstract: Galí, Gertler and Lòpez-Salido (2005), GGL, assert that the hybrid New Keynesian Phillips curve, NPC, is robust to different choices of estimation procedure and so some forms of specification bias. Specifically, ...