Jan Fredrik Qvigstad

Special Adviser


Tel.: +47 22 31 60 64
E-mail: jan.qvigstad@norges-bank.no

Norges Bank
P.O. Box 1179 Sentrum
0107 Oslo

Research interests

Monetary economics and applied macroeconomics

Born: 1949


1975: Graduate Degree in economics (Cand. oecon) from the University of Oslo

Work experience:

2014: Executive Director, Norges Bank

2008-2014: Appointed Deputy Governor, Norges Bank

1997–2008: Director and member of the management team (corporate management) at Norges Bank. Executive Director of Norges Bank Monetary Policy, with responsibility for Economics Department, Monetary Policy Department, Department for Market operations and Analysis, Research Department and Statistics Department

2000–2008: Temporary position as Professor II (shared professorship) in economics, Norwegian School of Management (BI)

1998–1999: Temporary position as Director of Studies II in economics, Norwegian School of Management (BI)

1992–1996: Director, Economics Department, Norges Bank

1990–1992: Senior Officer, EFTA, with responsibility for coordination of financial services and capital movements in relation to the EEA negotiations

1984–1990: Assistant Director, Economics Department, Norges Bank

1982: Visiting Scholar, University of Cambridge, UK

1978–1984: Principal Officer, later Assistant Director, Economics Department at the Ministry of Finance

1974–1978: Assistant lecturer, Department of Economics, University of Oslo


2016: Member of The Petroleum Price Board

2014: Deputy chair of the Board at Statistics Norway

Member of Steigum Committee "Norsk økonomi i forandring" ("Changing Norwegian economy"). NOU 1988:21

Editor of Sosialøkonomen 1974–1976

Member of the Working Committee of CME (Centre for Monetary Economics) at the Norwegian School of Management 1999–2003


Articles in academic journals, books and papers:

  1. "The Evolution of Central Banks: A Practitioner's Perspective", (with Andrew G. Haldane), in Central Banks at a Crossroads, Cambridge University Press, 2016
  2. "On institutions – Fundamentals of confidence and trust", Norges Bank Occasional Paper No. 47, 2014
  3. "On learning from history – Truths and eternal truths", Norges Bank Occasional Paper No. 46, 2013
  4. Monetary policy committees and communication, (with Ingimundur Fridriksson and Nina Langbraaten), Staff Memo 2/2013, Norges Bank
  5. Pengepolitiske komiteer og kommunikasjon,(med Ingimundur Fridriksson og Nina Langbraaten), Staff Memo 1/2013, Norges Bank
  6. The "Rule of Four", (co-author John Llewellyn with Nikka Husom Vonen and Bimal Dharmasena), The Business Economist, Vol 43, No. 1, 2012
  7. "On managing wealth", Norges Bank Occasional Paper No. 45, 2012
  8. "Om å forvalte rikdom", Nytt Norsk Tidsskrift nr. 1/2012
  9. "Om å fatte gode beslutninger", Nytt Norsk Tidsskrift nr. 2/2011
  10. "On making good decisions", Norges Bank Occasional Paper No. 43, 2011
  11. "Two essays on the magic number 4" ("Would the simple 4 per cent rule have uncovered that there was a crisis in the offing?" and  "When is the banking industry too large?" (co-authors Sigbjørn Atle Berg and Nikka Husom Vonen), Staff Memo 2/2011, Norges Bank
  12. “On transparency”, Norges Bank Occasional Papers No. 41, 2010
  13. "Om åpenhet", Nytt Norsk Tidsskrift nr. 1-2/2010
  14. ”On keeping promises”, Norges Bank Occasional Papers No. 39, 2009
  15. "European Promises", (co-author Vitor Gaspar). BEPA Monthly Brief, Issue 25/2009
  16. "Om å holde ord", Nytt Norsk Tidsskrift nr. 1/2009
  17. "Designing research in central banks", (co-author Øyvind Eitrheim), in Designing central banks, Routledge, 2009
  18. "Historical Monetary Statistics for Norway – Part II", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 38, 2007
  19. "Introduction to Ragnar Frisch's 1933 pamphlet - Saving and circulation regulation", (co-author Olav Bjerkholt), Rivista di storia economica No. 2, 2007
  20. "Review of the ECB's strategy and alternative approaches", Economic Bulletin 2/06
  21. "When does an interest rate path "look good"? Criteria for an appropriate future interest rate path", Norges Bank Working Paper 2006/05
  22. "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård", (co-editor Øyvind Eitrheim),  Norges Bank Occasional Papers No. 37, 2005
  23. "500 years of price history: Price stability is the norm. What distinguishes the abnormal?", Talk at the conference entitled "Historical Monetary Statistics for Norway", Bogstad 7 June 2005, Staff Memo 7/2005, Norges Bank,
  24. "When does an interest path look good? Criteria for an appropriate future interest rate path - A practitioners approach", Staff Memo 6/2005, Norges Bank,
  25. "Policy-making and models at Norges Bank", Summary of talk held at Norges Bank's conference entitled "Economic models at central banks", in Oslo 7 April 2005. Staff Memo 5/2005, Norges Bank,
  26. "How to treat the exchange rate assumption for an inflation targeting regime", Staff Memo 4/2005, Norges Bank
  27. "Historical Monetary Statistics for Norway 1819–2003", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 35, 2004
  28. "Monetary policy in real time: The role of simple rules " (co-authors Kjetil Olsen and Øystein Røisland), BIS policy Paper No. 19, 2003
  29. "Some comments to Orphanides and Svensson", "The role of monetary policy rules in inflation targeting regimes - Theory meets practice", Workshop, Norges Bank 5-6 May 2003
  30. "Pengepolitikk i realtid", festskrift til Erling S. Andersens sekstiårsdag, NKI Forlaget, 2001
  31. "Monetary policy in real time, Norges Bank Working Paper 2001/1, Norges Bank
  32. "Hva er så spesielt med pengepolitikken?" ("What is so special about monetary policy?"), (co-author Øistein Røisland), in Perspektiver på pengepolitikken, Gyldendal Akademisk, 2000
  33. "Monetary policy rules in Norway - a counterfactual experiment using the Norges Bank macroeconomic model RIMINI", (co-author Øyvind Eitrheim), manuscript
  34. "Inflasjonsrapporten som instrument" ("The Inflation Report as an instrument"), (co-author Amund Holmsen), Norges Banks Skriftserie, 28, 20-26, 1999
  35. "Norge og felles mynt i Europa - en kommentar" ("Norway and the common European currency - a commentary"), in ØMU og pengepolitikken i Norden, Norges Banks Skriftserie, 26, 124-128, 1998
  36. "Norwegian traditions and international trends", in Choosing a Monetary Policy Target, Scandinavian University Press, 1997
  37. "Monetary policy in Norway - experience since 1992" (co-author Jon Nicolaisen), BIS Policy Papers, 2, 101-132, 1997
  38. "Valutakursregimer - historiske erfaringer og fremtidige utfordringer" ("Exchange rate regimes - historical experiences and future challenges") (co-author Arent Skjæveland), in Stabilitet og langsiktighet - Festskrift til Hermod Skånland, Aschehoug, 1994
  39. "Economic and Monetary Union (EMU). A Survey of the EMU and empirical evidence on convergence for the EC and the EFTA countries", EFTA Occasional Papers No. 36, 1992
  40. "Finansielle tjenester, kapitalbevegelser og økonomisk-politisk samarbeid innenfor EØS-avtalen" ("Financial services, capital movements and cooperation on economic policy within the EEA agreement"), Penger og Kreditt, 1991
  41. "EF's pengeunion" (The EU monetary union"), Sosialøkonomen, 1991
  42. "Er det så opplagt at...? ("Is it so obvious that...?")" An interview with Professor Haavelmo on the occasion of him being awarded the Nobel Price, Sosialøkonomen, 1989
  43. "Tilbud og etterspørsel i de makroøkonomiske modellene ("Supply and demand in macroeconomic models"), (co-author Tore Eriksen and Sigurd Tveitereid), in Vekst og sysselsetting - Festskrift til Eivind Erichsen, Cappelen, 1987
  44. "Utviklingen i pengemengden gjennom 1984 og 1985 ", (co-author Harald Bøhn), in Penger, kreditt og valuta : en artikkelsamling, Universitetsforlaget, 1987
  45. "Er realrentenivået høyt?" ("Is the real interest rate level high?"), Bergen Bank kvartalsskrift, 1986
  46. "Statsgjelden - et problem når veksten er lav og renten er høy" ("Government debt - a problem when growth is low and the interest rate high") (co-author Michael Hoel), Sosialøkonomen, 1986
  47. "Sesongjustering i arbeidet med konjunkturanalyse" ("Seasonal adjustment in work on cyclical analysis"), (co-author Kjell G. Bleivik), Penger og Kreditt, 1986
  48. "Utviklingen i pengemengden gjennom 1984 og 1985" ("Developments in the money supply thorough 1984 and 1985"), (co-author Harald Bøhn), Sosialøkonomen, 1985
  49. "The use of macroeconomic models in economic policy making: the Norwegian experience", (co-author Tore Eriksen), Arbeidsnotater no. 12 (Ministry of Finance), 1985
  50. "The use of macroeconomic models in economic policy making", (co-author Tore Eriksen), Economic Modelling, 1985
  51. "Finmod - en finanspolitisk modell" ("Finmod - a fiscal policy model"), (co-author Tore Eriksen), Sosialøkonomen, 1983
  52. "Bruk av modeller i den økonomisk-politiske debatt" ("The use of models in the economic policy debate"), Sosialøkonomen, 1982
  53. "Portrett: Professor Frank Hahn - monetarismen har vært en ulykke" ("Portrait: Professor Frank Hahn - monetarism has been a calamity"), Sosialøkonomen, 1982
  54. "The use of macroeconomic models in economic policy making, the Norwegian experience", GPP519, Department of Applied Economics, University of Cambridge, 1982
  55. "A fiscal policy model for Norway", GPP521, Department of Applied Economics, University of Cambridge, 1982
  56. "Finanspolitiske indikatorer og en finanspolitisk modell" med Tekniske vedlegg (co-authors Tore Eriksen and Asbjørn Rødseth), Arbeidsnotater no. 2 (Ministry of Finance), 1981
  57. "Arbeidsmiljø - en økonomisk analyse. Del 1: Arbeidsmiljø og næringsstruktur" ("Working environment - an economic analysis. Part 1: Working environment and industrial structure") (co-author Tore Eriksen), Sosialøkonomen,1979
  58. "Arbeidsmiljø - en økonomisk analyse. Del 2: Teoretiske refleksjoner om arbeidsmiljø" ("Working environment - an economic analysis. Part 2: Theoretical reflections on working environment") (co-author Tore Eriksen), Sosialøkonomen,1979
  59. "Arbeidsmiljø og næringsstruktur" ("Working environment and industrial structure") (co-author Tore Eriksen), Memorandum from Sosialøkonomisk Institutt, 1978
  60. "A Study of Consumption Costs" (co-author Tore Thonstad), Memorandum from Sosialøkonomisk Institutt, 1977
  61. "Noen emner fra inflasjonsteorien" ("Some topics from inflation theory") prepared on the basis of Professor Haavelmo's lectures, Memorandum from Sosialøkonomisk Institutt, 1977

Books (editor and co-editor):

  1. "On Central Banking", Cambridge University Press, 2016
  2. "Central Banks at a Crossroads", (with Michael D. Bordo, Øyvind Eitrheim and Marc Flandreau), Cambridge University Press, 2016
  3. "Norges Bank 1816-2016. En historie i bilder", (with Harald Bøhn and Øyvind Eitrheim), Fagbokforlaget, 2016
  4. "Twenty Years of Inflation Targeting" (co-editors: David Cobham, Øyvind Eitrheim and Stefan Gerlach), Cambridge University Press, 2010
  5. "Historical Monetary Statistics for Norway - Part II" (co-editors: Øyvind Eitrheim and Jan Tore Klovland) Norges Bank Occasional Paper, 38, 2007
  6. "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård" (co-editor: Øyvind Eitrheim), Norges Banks Skriftserie, 37, 2005
  7. "Historical Monetary Statistics for Norway 1819 - 2003" (co-editors: Øyvind Eitrheim and Jan Tore Klovland), Norges Bank Occasional Paper, 35, 2004
  8. "Perspektiver på pengepolitikken" ("Perspectives on monetary policy") (co-editor Øistein Røisland), Gyldendal Akademisk 2000
  9. "ØMU og pengepolitikken i Norden" ("EMU and monetary policy in the Nordic countries"), Norges Banks Skriftserie, 26, 1998
  10. "Choosing a Monetary Policy Target" (co-editor Ms. Anne Berit Christiansen), Scandinavian University Press, 1997)
  11. "Stabilitet og langsiktighet - Festskrift til Hermod Skånland" ("Stability and longtermism - Collection of articles dedicated to Hermod Skånland") (co-editors Sigbjørn Atle Berg and Kjell Storvik), Aschehoug, 1994

Articles in newspapers

  1. "Pengenes aktsomme vokter",  Aftenposten 15. juni 2005
  2. "Lav prisstigning gjennom 500 år" ( "500 years of low inflation"), Aftenposten 25. oktober 2004


  1. Introductory remarks at the Workshop on Understanding Macroprudential Regulation Norges Bank, 2012
  2. "On learning from history - Truths and eternal truths" / "Om å lære av historien - Sannheter og evige sannheter", speech at the Norwegian Academy of Science and Letters (Det Norske Videnskaps-Akademi), 2012
  3. "On managing wealth" / "Om å forvalte rikdom", speech at the Norwegian Academy of Science and Letters (Det Norske Videnskaps-Akademi), 2011
  4. "Managing wealth – the Norwegian experience", speech at a seminar hosted by FEDEA in Madrid with the assistance of Norway’s ambassador to Spain, Torgeir Larsen, 23.03.2011
  5. "Lessons from the crisis for monetary policy and financial stability", speech at the Annual Money, Macro and Finance Conference, Limassol, 03.09.2010
  6. "Could the financial crisis have been avoided? Challenges to international cooperation and conflict", speech at a seminar on the financial crisis arranged by Prio in Oslo, 08.12.2009
  7. Comments on Lars E. O. Svensson's lecture "Policy expectations and policy evaluations: the role of transparency and communication" (Kommentarer til Lars E. O. Svenssons foredrag "Förväntningar om och utvärderingar av penningpolitiken: Vilken roll har öppenhet och kommunikation?",) at the Conference "Ten Years of Riksbank Independence" in Stockholm, 11.09.2009
  8.  "The global economic crisis and its impact on Sovereign Wealth Funds: The example of Norway", speech at a meeting for financial sector representatives in Geneva hosted by the Royal Norwegian Embassy, 11.05.2009
  9. "The Nordics in the EU - Fiscal similarities and monetary differences", speech at a seminar hosted by the European Commission, Brussels, 13.02.2009
  10. "Transparency and central bank communication", speech at a seminar in Banca d’Italia, Rome, 04.11.2008
  11. "Writing central bank and monetary history – what are the issues?", welcome remarks at a workshop co-organised by The Graduate Institute, Geneva and Norges Bank in Oslo, 30.10.2008
  12. "Trends in monetary policy transparency - Comments to Petra M. Geraats' paper", speech at the conference "International Experience with the Conduct of Monetary Policy under Inflation Targeting" in Ottawa, 23.07.2008
  13. "Review of the ECB's strategy and alternative approaches", speech at the conference "The ECB and Its Watchers VIII" in Frankfurt, 05.05.2006 
Published 28 August 2007 13:30
Edited 26 May 2017 10:21