Nasjonalregnskap og konjunkturer

Determinants of long-term interest rates in the Scandinavian countries

Discussion Papers no. 469

Publisert: 23. august 2006

The financial markets in a small open economy like the Scandinavian countries are influenced by international economic developments, especially in their major trading partners. This paper investigates to which degree nominal long-term int...

The financing structure of non-listed firms

Discussion Papers no. 468

Publisert: 15. august 2006

The financing structure of non-listed firms

Discussion Papers no. 468

Publisert: 15. august 2006

This paper presents an analysis of how Norwegian non-listed firms are financed. Using a unique database covering all limited liability firms in Norway, both the size (leverage) and composition (maturity structure) of debt are investigated...

The impact on rent from tenant and landlord characteristics and interaction

Discussion Papers no. 467

Publisert: 8. august 2006

The impact on rent from tenant and landlord characteristics and interaction

Discussion Papers no. 467

Publisert: 8. august 2006

Owner-occupied housing services and rented housing services are often considered close substitutes, and both house price and rental price indices rely on regressions based on dwelling and location characteristics. However, while such char...

Axiomatization of stochastic models for choice under uncertainty

Discussion Papers no. 465

Publisert: 7. august 2006

The influence of the business cycle on bankruptcy probability

Discussion Papers no. 466

Publisert: 7. august 2006

The influence of the business cycle on bankruptcy probability

Discussion Papers no. 466

Publisert: 7. august 2006

I combine two fields of research on default prediction by empirically testing a bankruptcy prediction function where unlisted firms are evaluated on the basis of both their financial statement analysis and the macroeconomic environment. T...

Axiomatization of stochastic models for choice under uncertainty

Discussion Papers no. 465

Publisert: 7. august 2006

This paper develops a theory of probabilistic models for risky choices. Part of this theory can be viewed as an extension of the expected utility theory to account for bounded rationality. One probabilistic version of the Archimedean Axio...

A welfare state funded by nature and OPEC

Discussion Papers no. 464

Publisert: 6. juli 2006

A welfare state funded by nature and OPEC

Discussion Papers no. 464

Publisert: 6. juli 2006

Large petroleum revenues make Norway an enviable fiscal loner. The fiscal policy rule adopted from 2001 transforms petroleum wealth into foreign assets, and only the real return on the financial fund should be spent annually. Despite this...

Will it float?

Discussion Papers no. 463

Publisert: 5. juli 2006

Removing policy based comparative advantage for energy intensive production

Discussion Papers no. 462

Publisert: 5. juli 2006

Will it float?

Discussion Papers no. 463

Publisert: 5. juli 2006

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, the dominance of forward-l...

Removing policy based comparative advantage for energy intensive production

Discussion Papers no. 462

Publisert: 5. juli 2006

National and international expansion of transmission networks and diminishing returns to scale in hydropower capacity expansion has raised the opportunity cost of electricity. The resulting changes in comparative advantage between industr...