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Sigstad, Henrik & Lambais, Guilherme
(2023)
Judicial subversion: The effects of political power on court outcomes
Journal of Public Economics, 217.
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Moss, Jonas & Grønneberg, Steffen
(2023)
Partial Identification of Latent Correlations with Ordinal Data
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Kost, Dominique; Kopperud, Karoline, Buch, Robert, Kuvaas, Bård & Olsson, Ulf Henning
(2023)
The competing influence of psychological job control on family-to-work conflict
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Broer, Tobias; Harmenberg, Karl, Krusell, Per & Öberg, Erik
(2023)
Macroeconomic dynamics with rigid wage contracts
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Golombek, Rolf; Greaker, Mads, Kverndokk, Snorre & Ma, Lin
(2023)
Policies to promote Carbon Capture and Storage Technologies
Environmental and Resource Economics.
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Moen, Espen Rasmus; Garibaldi, Pietro & Pissarides, Christopher
(2023)
The SAM Approach to Epidemic Models
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Isachsen, Arne Jon & Gylfason, Thorvaldur
(2022)
Awakening from the Chinese Dream
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Straume, Hans-Martin; Asche, Frank, Oglend, Atle, Abrahamsen, Eirik Bjorheim, Birkenbach, Anna M., Langguth, Johannes, Lanquepin, Guillaume & Roll, Kristin Helen
(2022)
Impacts of Covid-19 on Norwegian salmon exports: A firm-level analysis
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Juodis, Artūras & Sarafidis, Vasilis
(2022)
A Linear Estimator for Factor-Augmented Fixed-T Panels With Endogenous Regressors
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Costa, Francisco; Nunes, Leticia & Sanches, Fabio Miessi
(2022)
How to Attract Physicians to Underserved Areas? Policy Recommendations from a Structural Model
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Aastveit, Knut Are & Anundsen, André Kallåk
(2022)
Asymmetric effects of monetary policy in regional housing markets
Vis sammendrag
The responsiveness of house prices to monetary policy shocks depends on the nature of the shock—expansionary versus contractionary—and on local housing supply elasticities. These findings are established using a panel of 263 US metropolitan areas. Expansionary monetary policy shocks have a larger impact on house prices in supply inelastic areas. Contractionary shocks are orthogonal to housing supply elasticities. In supply elastic areas, contractionary shocks have a greater impact on house prices than expansionary shocks. The opposite holds true in supply inelastic areas. We attribute this to asymmetric housing supply adjustments.
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Boppart, Timo; Harmenberg, Karl, Krusell, Per & Olsson, Jonna
(2022)
Integrated epi-econ assessment of vaccination
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Galle, Simon; Rodriguez-Clare, Andres & Yi, Moises
(2022)
Slicing the Pie: Quantifying the Aggregate and Distributional Effects of Trade
Vis sammendrag
We develop a multi-sector gravity model with heterogeneous workers to quantify the aggregate and group-level welfare effects of trade. The model generalizes the specific-factors intuition to a setting with labor reallocation, leads to a parsimonious formula for the group-level welfare effects from trade, and nests the aggregate results in Arkolakis et al. (2012). We estimate the model using the structural relationship between China-shock driven changes in manufacturing employment and average earnings across US groups defined as commuting zones. We find that the China shock increases average welfare but some groups experience losses as high as four times the average gain. However, adjusting for plausible measures of inequality aversion barely affects the welfare gains. We also develop and estimate an extension of the model that endogenizes labor force participation and unemployment, finding similar welfare effects from the China shock.
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Byrne, David P.; Imai, Susumu, Jain, Neelam & Sarafidis, Vasilis
(2022)
Instrument-free identification and estimation of differentiated products models using cost data
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Schönhage, Nanna Lauritz & Geys, Benny
(2022)
Politicians and Scandals that Damage the Party Brand
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Heggedal, Tom-Reiel; Helland, Leif & Morton, Rebecca
(2022)
Can Paying Politicians Well Reduce Corruption? The Effects of Wages and Uncertainty on Electoral Competition
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Eraslan, Sercan & Schröder, Maximilian
(2022)
Nowcasting GDP with a pool of factor models and a fast estimation algorithm
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Straume, Hans-Martin & Sudhakaran, Pratheesh O.
(2022)
Seafood markets in transition
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Cross, Jamie; Nguyen, Bao H. & Tran, Trung Duc
(2022)
The role of precautionary and speculative demand in the global market for crude oil
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Furlanetto, Francesco; Hagelund, Kåre, Hansen, Frank & Robstad, Ørjan
(2022)
Norges Bank Output Gap Estimates: Forecasting Properties, Reliability, Cyclical Sensitivity and Hysteresis
Vis sammendrag
This paper documents the suite of models (SoMs) used by Norges Bank to estimate theoutput gap. The models are estimated using data on GDP, unemployment, inflation, wages,investment, house prices and credit. We evaluate the estimated output gap series in termsof its forecasting properties, its reliability and its cyclical sensitivity to various measuresof demand and supply shocks. A simple equally weighted average of estimates fromdifferent models features a better forecasting performance than each individual model. Inaddition, it helps predicting inflation in pseudo real time and exhibits limited variationswhen new data become available. The summary measure of potential output respondsstrongly and rapidly to permanent shocks and to narrative measures of technology shocksbut, although to a more limited extent, also to demand shocks, thus partly capturinghysteresis effects.
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Kreiberg, David & Zhou, Xingwu
(2022)
A Faster Procedure for Estimating SEMs Applying Minimum Distance Estimators With a Fixed Weight Matrix
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Sørensen, Rune Jørgen; Iversen, Jon Marius Vaag, From, Johan & Bonesrønning, Hans
(2022)
Parenting styles and school performance: evidence from second-generation immigrants in Norway
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Heggedal, Tom-Reiel; Helland, Leif & Knutsen, Magnus Våge
(2022)
The power of outside options in the presence of obstinate types
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Cui, Guowei; Norkutė, Milda, Sarafidis, Vasilis & Yamagata, Takashi
(2022)
Two-stage instrumental variable estimation of linear panel data models with interactive effects
Vis sammendrag
This paper analyses the instrumental variables (IV) approach put forward by Norkute et al. (2021), in the context of static linear panel data models with interactive effects present in the error term and the regressors. Instruments are obtained from transformed regressors, thereby it is not necessary to search for external instruments. We consider a two-stage IV (2SIV) and a mean-group IV (MGIV) estimator for homogeneous and heterogeneous slope models, respectively. The asymptotic analysis reveals that: (i) the NT−−−√-consistent 2SIV estimator is free from asymptotic bias that may arise due to the estimation error of the interactive effects, while (ii) existing estimators can suffer from asymptotic bias; (iii) the proposed 2SIV estimator is asymptotically as efficient as existing estimators that eliminate interactive effects jointly in the regressors and the error, while (iv) the relative efficiency of the estimators that eliminate interactive effects only in the error term is indeterminate. A Monte Carlo study confirms good approximation quality of our asymptotic results.
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Bergholt, Drago; Furlanetto, Francesco & Maffei-Faccioli, Nicolo
(2022)
The decline of the labor share: new empirical evidence
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Capeleti, Paulo; Garcia, Marcio & Sanches, Fabio Miessi
(2022)
Countercyclical Credit Policies and Banking Concentration: Evidence from Brazil
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Anderson, James L.; Asche, Frank, Garlock, Taryn, Hegde, Shraddha, Ropicki, Andrew & Straume, Hans-Martin
(2022)
Impacts of COVID-19 on U.S. Seafood Availability
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Anundsen, André Kallåk; Kivedal, Bjørnar Karlsen, Røed Larsen, Erling & Thorsrud, Leif Anders
(2022)
Behavioral changes in the housing market before and after the Covid-19 lockdown
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Iversen, Nina; Hem, Leif Egil & Olsson, Ulf H.
(2022)
Willingness to buy US products in three Southeast European countries: The effects of cognitive, affective and conative components of country-of-origin image
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Canova, Fabio & Ferroni, Filippo
(2022)
Mind the gap: Stylized dynamic facts and structural models
Vis sammendrag
We study what happens to identified shocks and to dynamic responses
when the data generating process features q disturbances but q 1 < q
variables are used in an empirical model. Identified shocks are linear
combinations of current and past values of all structural disturbances
and do not necessarily combine disturbances of the same
type. Theory-
based restrictions may be insufficient to obtain structural
dynamics. We revisit the evidence regarding the transmission
of house price and of uncertainty shocks. We provide suggestions on
how to compare the dynamics of larger scale DSGEs models with
smaller scale VARs. (JEL E12, E13, E23, E31, E43, R31)
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Andersen, Jørgen Juel & Sørensen, Rune Jørgen
(2022)
The zero-rent society: Evidence from hydropower and petroleum windfalls in Norwegian local governments
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Korotov, Sergey; Lund, Lars Fredrik Kirkebø & Vatne, Jon Eivind
(2022)
Tight bounds for the dihedral angle sums of a pyramid
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Stauskas, Ovidijus
(2022)
Complete Theory for CCE Under Heterogeneous Slopes and General Unknown Factors
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Brekke, Kurt Richard; Dalen, Dag Morten & Straume, Odd Rune
(2022)
Paying for pharmaceuticals: uniform pricing versus two-part tariffs
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Grønneberg, Steffen; Foldnes, Njål & Marcoulides, Katerina
(2022)
covsim: An R Package for Simulating Non-Normal Data for Structural Equation Models Using Copulas
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In factor analysis and structural equation modeling non-normal data simulation is traditionally performed by specifying univariate skewness and kurtosis together with the target covariance matrix. However, this leaves little control over the univariate distributions and the multivariate copula of the simulated vector. In this paper we explain how a more flexible simulation method called vine-to-anything (VITA) may be obtained from copula-based techniques, as implemented in a new R package, covsim. VITA is based on the concept of a regular vine, where bivariate copulas are coupled together into a full multivariate copula. We illustrate how to simulate continuous and ordinal data for covariance modeling, and how to use the new package discnorm to test for underlying normality in ordinal data. An introduction to copula and vine simulation is provided in the appendix.
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Grønneberg, Steffen & Foldnes, Njål
(2022)
Factor analyzing ordinal items requires substantive knowledge of response marginals
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Oglend, Atle; Asche, Frank & Straume, Hans-Martin
(2022)
Estimating Pricing Rigidities in Bilateral Transactions Markets
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Aastveit, Knut Are; Cross, Jamie & van Dijk, Herman K.
(2022)
Quantifying Time-Varying Forecast Uncertainty and Risk for the Real Price of Oil
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Asche, Frank; Straume, Hans-Martin, Yang, Bixuan, Gephart, Jessica A., Smith, Martin D., Anderson, James L., Camp, Edward V., Garlock, Taryn M., Love, David C. & Oglend, Atle
(2022)
China’s seafood imports – not for domestic consumption? : an estimated 74.9% of China's seafood imports are reexported
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Andersen, Jørgen Juel; Johannesen, Niels & Rijkers, Bob
(2022)
Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts
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Bruno, Lars Christian; Eloranta, Jari, Ojala, Jari & Pehkonen, Jaakko
(2022)
Road to unity? Nordic economic convergence in the long run
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Geys, Benny; Heggedal, Tom-Reiel & Sørensen, Rune Jørgen
(2022)
Age and vote choice: Is there a conservative shift among older voters?
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Galeati, Lucio; Harang, Fabian Andsem & Mayorcas, Avi
(2022)
Distribution dependent SDEs driven by additive fractional Brownian motion
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Harang, Fabian Andsem; Tindel, Samy & Wang, Xiaohua
(2022)
Volterra equations driven by rough signals 2: higher order expansions
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Asche, Frank; Straume, Hans-Martin, Garlock, Taryn M., Johansen, Ulf, Kvamsdal, Sturla Furunes, Nygård, Rune, Pincinato, Ruth Beatriz & Tveterås, Ragnar
(2022)
Challenges and opportunities: Impacts of COVID-19 on Norwegian seafood exports
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Rebnor, Robert; Straume, Hans-Martin & Vårdal, Erling
(2022)
Valutabruk i norsk utenrikshandel
Samfunnsøkonomen, p. 54-65.
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Iachan, Felipe S.; Nenov, Plamen & Simsek, Alp
(2021)
The Choice Channel of Financial Innovation
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ter Ellen, Saskia; Larsen, Vegard Høghaug & Thorsrud, Leif Anders
(2021)
Narrative Monetary Policy Surprises and the Media
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We propose a simple method to quantify narratives from textual data, and identify what we label “narrative monetary policy surprises” as the difference in narrative focus in central bank communication accompanying interest rate meetings and economic media coverage prior to those meetings. Identifying narrative surprises in this way using Norwegian data provides surprise measures that are uncorrelated with conventional monetary policy surprises, and, in contrast to such surprises, have a significant effect on subsequent media coverage. In turn, narrative monetary policy surprises lead to macroeconomic responses similar to what recent monetary policy literature associates with the information component of monetary policy communication, highlighting media’s role as information intermediaries.
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Ellingsen, Jon; Larsen, Vegard Høghaug & Thorsrud, Leif Anders
(2021)
News media versus FRED-MD for macroeconomic forecasting
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Using a unique dataset of 22.5 million news articles from the Dow Jones Newswires Archive, we perform an in depth real-time out-of-sample forecasting comparison study with one of the most widely used data sets in the newer forecasting literature, namely the FRED-MD dataset. Focusing on US GDP, consumption and investment growth, our results suggest that the news data contains information not captured by the hard economic indicators, and that the news-based data are particularly informative for forecasting consumption developments.
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Mauritzen, Johannes & Sucarrat, Genaro
(2021)
Increasing Or Diversifying Risk?Tail Correlations, Transmission Flows And Prices Across Wind Power Areas
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Ile, Runar
(2021)
Deformation theory of Cohen-Macaulay approximation
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Korotov, Sergey; Lund, Lars Fredrik Kirkebø & Vatne, Jon Eivind
(2021)
Improved Maximum Angle Estimate for Longest-Edge Bisection
-
Canova, Fabio & Matthes, Christian
(2021)
A composite likelihood approach for dynamic structural models
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Andersen, Jørgen Juel; Nordvik, Frode Martin & Tesei, Andrea
(2021)
Oil Price Shocks and Conflict Escalation: Onshore versus Offshore
-
Bjørnland, Hilde C; Nordvik, Frode Martin & Rohrer, Maximilian
(2021)
Supply flexibility in the shale patch: Evidence from North Dakota
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Bos, Olivier; Martinez, Francisco Gomez, Onderstal, Sander & Truyts, Tom
(2021)
Signalling in auctions: Experimental evidence
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Murdoch, Zuzana; Connolly, Sara Jane, Kassim, Hussein & Geys, Benny
(2021)
Legitimacy Crises and the Temporal Dynamics of Bureaucratic Representation
Governance. An International Journal of Policy, Administration and Institutions, 35(1), p. 65-82.
Doi:
10.1111/gove.12569
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Fiva, Jon H.; Geys, Benny, Heggedal, Tom-Reiel & Sørensen, Rune Jørgen
(2021)
Political Alignment and Bureaucratic Pay
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Juodis, Artūras; Karavias, Yiannis & Sarafidis, Vasilis
(2021)
A homogeneous approach to testing for Granger non-causality in heterogeneous panels
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Hansen, Bjørn Gunnar & Olsson, Ulf H.
(2021)
Specification Search in Structural Equation Modeling (SEM): How Gradient Component-wise Boosting can Contribute
-
Foldnes, Njål & Grønneberg, Steffen
(2021)
Non-normal Data Simulation using Piecewise Linear Transforms
-
Canova, Fabio & Matthes, Christian
(2021)
Dealing with misspecification in structural macroeconometric models
-
Lu, Jingfeng; Lu, Zongwei & Riis, Christian
(2021)
Perfect bidder collusion through bribe and request
-
Geys, Benny & Sørensen, Rune Jørgen
(2021)
Public Sector Employment and Voter Turnout
-
Landazuri Concha, Ursula Alejandra; Asche, Frank & Straume, Hans-Martin
(2021)
Dynamics of Buyer-Seller Relations in Norwegian Wine Imports