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Research

Research at Norges Bank includes theoretical and empirical research on monetary policy issues, financial markets and asset management

Read more about research at Norges Bank.

The Research Department is glad to announce that we have hired Claudia Foroni (EUI) from 1 October.

Recent and Forthcoming Publications

The market microstructure approach to foreign exchange: Looking back and looking forward, by Michael R. King, Carol L. Osler and Dagfinn Rime. Forthcoming in Journal of International Money and Finance.

The Margins of Multinational Production and the Role of Intrafirm Trade, by Alfonso A. Irarrazabal, Andreas Moxnes and Luca David Opromolla. Forthcoming in Journal of Political Economy

Investment shocks and macroeconomic co-movement, by Francesco Furlanetto, Gisle J. Natvik and Martin Seneca. Forthcoming in Journal of Macroeconomics

Monetary Policy and Asset Prices with Belief-Driven Fluctuations, by Marco Airaudo, Roberta Cardani and Kevin J. Lansing. Forthcoming in Journal of Economic Dynamics and Conrol

Housing Bubbles and Expected Returns to Home Ownership: Lessons and Policy Implications, by Marius Jurgilas and Kevin J. Lansing. Forthcoming in Property Prices and Real Estate Financing in a Turbulent World, M. Balling and J. Berg (eds.), Société Universitaire Européenne de Recherches Financières (SUERF)

Time-varying Combinations of Predictive Densities using Nonlinear Filtering, by Monica Billio, Roberto Casarin, Francesco Ravazzolo and Herman K. van Dijk. Forthcoming in Journal of Econometrics

Forecast Densities for Economic Aggregates from Disaggregate Ensembles, by Francesco Ravazzolo and Shaun P. Vahey. Forthcoming in Studies in Nonlinear Dynamics and Econometrics

House Prices, Credit Growth and Excess Volatility: Implications for Monetary and Macroprudential Policy, by Paolo Gelain, Kevin J. Lansing and Caterina Mendicino. Forthcoming in International Journal of Central Banking

A Comparison of Mixed Frequency Approaches for Nowcasting Euro Area Macroeconomic Aggregatesl, by Claudia Foroni and Massimiliano Marcellino. Forthcoming in International Journal of Forecasting

Alternative Econometric Implementations of Multi-Factor Models of the US Financial Markets, by Massimo Guidolin, Francesco Ravazzolo and Andrea D. Tortora. Forthcoming in Quarterly Review of Economics and Finance

A Theory of Entry into and Exit from Export Markets by Giammario Impullitti, Alfonso A. Irarrazabal and Luca David Opromolla. Forthcoming in Journal of International Economics

Wage Rigidity, Inflation, and Institutions by Steinar Holden and Fredrik Wulfsberg. Forthcoming in Scandinavian Journal of Economics

'Large' vs. 'Small' Players: A Closer Look at the Dynamics of Speculative Attacks by Geir Bjønnes, Steinar Holden, Dagfinn Rime and Haakon Solheim. Forthcoming in Scandinavian Journal of Economics

Forecasting Macroeconomic Variables Using Disaggregate Survey Data, by Kjetil Martinsen, Francesco Ravazzolo and Fredrik Wulfsberg. Forthcoming in International Journal of Forecasting

New Perspectives on Depreciation Shocks as a Source of Business Cycle Fluctuations by Francesco Furlanetto and Martin Seneca. Forthcoming in Macroeconomic Dynamics.

Heterogeneous firms or heterogeneous workers? Implications for exporter premia and the gains from trade by Alfonso Irrarazzaball. Forthcoming in Review of Economics and Statistics

Do Re-election Probabilities Influence Public Investment? by Jon Fiva and Gisle J. Natvik. Forthcoming in Public Choice

Oil and US GDP: A real-time out-of-sample examination by Francesco Ravazzolo and Philip Rothman. Forthcoming in Journal of Money, Credit and Banking

Myths and facts about the alleged over-pricing of U.S. real estate. Evidence from multi-factor asset pricing models of REIT returns by Massimo Guidolin, Francesco Ravazzolo and Andrea Donato Tortora.  Forthcoming in Journal of Real Estate Finance and Economics



Recent Working Papers

Monetary policy decisions - comparing theory and "inside" information from MPC members, by Mikael Apel, Carl Andreas Claussen, Petra Gerlach-Kristen, Petra Lennartsdotter and Øistein Røisland

Financing Japan's World War II occupation of Southeast Asia, by Gregg Huff and Shinobu Majima

Misallocation and the recovery of manufacturing TFP after a financial crisis, by Kaiji Chen and Alfonso Irarrazabal 

Oil price density forecasts: exploing the linkages with stock markets, by Marco J. Lombardi and Francesco Ravazzolo

An equilibrium model of credit rating agencies, by Steinar Holden, Gisle J. Natvik and Adrian Vigier

Robustifying optimal monetary policy using simple rules as cross-checks, by Pelin Ilbas, Øistein Røisland and Tommy Sveen

Macro effects of capital requirements and macroprudential policy, by Q. Farooq Akram

Identifying cross-sided liquidity externalities, by Johannes A. Skjeltorp, Elvira Sojli and Wing Wah Tham

Does information sharing reduce the role of collateral as a screening device? By Artashes Karapetyan and Bogdan Stacescu

Collateral and repeated lending, by Artashes Karapetyan and Bogdan Stacescu

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PHD INTERNSHIPS

Norges Bank’s PhD internship program is directed toward PhD-students who are specializing within macro-economics.  Internships will normally last three months. Interns are expected to collaborate closely with other researchers at Norges Bank, with the aim to pursue a project until publication in an academic journal.

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