Norges Bank

Jan Fredrik Qvigstad

Economist emeritus

Contact:

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

Norges Bank
P.O. Box 1179 Sentrum
0107 Oslo
Norway

Research interests

Monetary economics and applied macroeconomics

Born: 1949

Education:

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

Work experience:

1 September 2019: Economist emeritus, Norges Bank

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

Miscellaneous:

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. Historical Monetary and Financial Statistics for Norway, Norges Bank Occasional Papers No. 57, 2022 
  2. Historical monetary and financial statistics for policymakers: towards a unified framework (pdf), 2022 (bis.org)
  3. Norway's road to inflation targeting. Overcoming the fear of floating – counterfactual analyses of four episodes, Norges Bank Occasional Papers No. 56, 2020
  4. «Kriterier for en godt begrunnet høyesterettsdom»,  (co-author Tore Schei), Lov og rett vol. 58. 8. 2019. 
  5. "How to draft 'good' minutes of monetary policy decisions". Economic Affairs, Vol. 39, No. 1, 2019
  6. "Optimal minutes", (co-author Tore Schei), VOX CEPR Policy Portal, 2018
  7. "Criteria for "good" justifications", (co-author Tore Schei), Working Paper 6/2018, Norges Bank
  8. "The Evolution of Central Banks: A Practitioner's Perspective", (with Andrew G. Haldane), in Central Banks at a Crossroads, Cambridge University Press, 2016
  9. "On institutions – Fundamentals of confidence and trust", Norges Bank Occasional Paper No. 47, 2014
  10. "On learning from history – Truths and eternal truths", Norges Bank Occasional Paper No. 46, 2013
  11. Monetary policy committees and communication, (with Ingimundur Fridriksson and Nina Langbraaten), Staff Memo 2/2013, Norges Bank
  12. Pengepolitiske komiteer og kommunikasjon,(med Ingimundur Fridriksson og Nina Langbraaten), Staff Memo 1/2013, Norges Bank
  13. The "Rule of Four", (co-author John Llewellyn with Nikka Husom Vonen and Bimal Dharmasena), The Business Economist, Vol 43, No. 1, 2012
  14. "On managing wealth", Norges Bank Occasional Paper No. 45, 2012
  15. "Om å forvalte rikdom", Nytt Norsk Tidsskrift nr. 1/2012
  16. "Om å fatte gode beslutninger", Nytt Norsk Tidsskrift nr. 2/2011
  17. "On making good decisions", Norges Bank Occasional Paper No. 43, 2011
  18. "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
  19. “On transparency”, Norges Bank Occasional Papers No. 41, 2010
  20. "Om åpenhet", Nytt Norsk Tidsskrift nr. 1-2/2010
  21. ”On keeping promises”, Norges Bank Occasional Papers No. 39, 2009
  22. "European Promises", (co-author Vitor Gaspar). BEPA Monthly Brief, Issue 25/2009
  23. "Om å holde ord", Nytt Norsk Tidsskrift nr. 1/2009
  24. "Designing research in central banks", (co-author Øyvind Eitrheim), in Designing central banks, Routledge, 2009
  25. "Historical Monetary Statistics for Norway – Part II", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 38, 2007
  26. "Introduction to Ragnar Frisch's 1933 pamphlet - Saving and circulation regulation", (co-author Olav Bjerkholt), Rivista di storia economica No. 2, 2007
  27. "Review of the ECB's strategy and alternative approaches", Economic Bulletin 2/06
  28. "When does an interest rate path "look good"? Criteria for an appropriate future interest rate path", Norges Bank Working Paper 2006/05
  29. "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård", (co-editor Øyvind Eitrheim),  Norges Bank Occasional Papers No. 37, 2005
  30. "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,
  31. "When does an interest path look good? Criteria for an appropriate future interest rate path - A practitioners approach", Staff Memo 6/2005, Norges Bank,
  32. "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,
  33. "How to treat the exchange rate assumption for an inflation targeting regime", Staff Memo 4/2005, Norges Bank
  34. "Historical Monetary Statistics for Norway 1819–2003", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 35, 2004
  35. "Monetary policy in real time: The role of simple rules" (co-authors Kjetil Olsen and Øystein Røisland), BIS policy Paper No. 19, 2003
  36. "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
  37. "Pengepolitikk i realtid", festskrift til Erling S. Andersens sekstiårsdag, NKI Forlaget, 2001
  38. "Monetary policy in real time, Norges Bank Working Paper 2001/1, Norges Bank
  39. "Hva er så spesielt med pengepolitikken?" ("What is so special about monetary policy?"), (co-author Øistein Røisland), in Perspektiver på pengepolitikken, Gyldendal Akademisk, 2000
  40. "Monetary policy rules in Norway - a counterfactual experiment using the Norges Bank macroeconomic model RIMINI", (co-author Øyvind Eitrheim), manuscript
  41. "Inflasjonsrapporten som instrument" ("The Inflation Report as an instrument"), (co-author Amund Holmsen), Norges Banks Skriftserie, 28, 20-26, 1999
  42. "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
  43. "Norwegian traditions and international trends", in Choosing a Monetary Policy Target, Scandinavian University Press, 1997
  44. "Monetary policy in Norway - experience since 1992" (co-author Jon Nicolaisen), BIS Policy Papers, 2, 101-132, 1997
  45. "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
  46. "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
  47. "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
  48. "EF's pengeunion" (The EU monetary union"), Sosialøkonomen, 1991
  49. "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
  50. "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
  51. "Utviklingen i pengemengden gjennom 1984 og 1985 ", (co-author Harald Bøhn), in Penger, kreditt og valuta : en artikkelsamling, Universitetsforlaget, 1987
  52. "Er realrentenivået høyt?" ("Is the real interest rate level high?"), Bergen Bank kvartalsskrift, 1986
  53. "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
  54. "Sesongjustering i arbeidet med konjunkturanalyse" ("Seasonal adjustment in work on cyclical analysis"), (co-author Kjell G. Bleivik), Penger og Kreditt, 1986
  55. "Utviklingen i pengemengden gjennom 1984 og 1985" ("Developments in the money supply thorough 1984 and 1985"), (co-author Harald Bøhn), Sosialøkonomen, 1985
  56. "The use of macroeconomic models in economic policy making: the Norwegian experience", (co-author Tore Eriksen), Arbeidsnotater no. 12 (Ministry of Finance), 1985
  57. "The use of macroeconomic models in economic policy making", (co-author Tore Eriksen), Economic Modelling, 1985
  58. "Finmod - en finanspolitisk modell" ("Finmod - a fiscal policy model"), (co-author Tore Eriksen), Sosialøkonomen, 1983
  59. "Bruk av modeller i den økonomisk-politiske debatt" ("The use of models in the economic policy debate"), Sosialøkonomen, 1982
  60. "Portrett: Professor Frank Hahn - monetarismen har vært en ulykke" ("Portrait: Professor Frank Hahn - monetarism has been a calamity"), Sosialøkonomen, 1982
  61. "The use of macroeconomic models in economic policy making, the Norwegian experience", GPP519, Department of Applied Economics, University of Cambridge, 1982
  62. "A fiscal policy model for Norway", GPP521, Department of Applied Economics, University of Cambridge, 1982
  63. "Finanspolitiske indikatorer og en finanspolitisk modell" med Tekniske vedlegg (co-authors Tore Eriksen and Asbjørn Rødseth), Arbeidsnotater no. 2 (Ministry of Finance), 1981
  64. "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
  65. "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
  66. "Arbeidsmiljø og næringsstruktur" ("Working environment and industrial structure") (co-author Tore Eriksen), Memorandum from Sosialøkonomisk Institutt, 1978
  67. "A Study of Consumption Costs" (co-author Tore Thonstad), Memorandum from Sosialøkonomisk Institutt, 1977
  68. "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. "What is a useful central bank? Proceedings from Norges Bank's symposium 17-18 November 2010", (co-editors Sigbjørn Atle berg, Øyvind Eitrheim and Marius Ryel), Norges Bank Occasional Papers no 42, 2011
  5. "Twenty Years of Inflation Targeting" (co-editors: David Cobham, Øyvind Eitrheim and Stefan Gerlach), Cambridge University Press, 2010
  6. "Historical Monetary Statistics for Norway - Part II" (co-editors: Øyvind Eitrheim and Jan Tore Klovland) Norges Bank Occasional Paper, 38, 2007
  7. "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård" (co-editor: Øyvind Eitrheim), Norges Banks Skriftserie, 37, 2005
  8. "Historical Monetary Statistics for Norway 1819 - 2003" (co-editors: Øyvind Eitrheim and Jan Tore Klovland), Norges Bank Occasional Paper, 35, 2004
  9. "Perspektiver på pengepolitikken" ("Perspectives on monetary policy") (co-editor Øistein Røisland), Gyldendal Akademisk 2000
  10. "ØMU og pengepolitikken i Norden" ("EMU and monetary policy in the Nordic countries"), Norges Banks Skriftserie, 26, 1998
  11. "Choosing a Monetary Policy Target" (co-editor Ms. Anne Berit Christiansen), Scandinavian University Press, 1997)
  12. "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

Speeches

  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 
Edited 24 May 2023 15:50