Forskning

Institutt for samfunnsøkonomi

Institutt for samfunnsøkonomi bidrar til forskningsbasert undervisning og kunnskapsutvikling i samfunnsøkonomiske disipliner og i metode på alle nivåer.

BIs vitenskapelige produksjon er registrert i den nasjonale databasen Cristin (Current Research Information System In Norway).

Publikasjoner

Sigstad, Henrik & Lambais, Guilherme (2023)

Judicial subversion: The effects of political power on court outcomes

Journal of Public Economics, 217.
Moss, Jonas & Grønneberg, Steffen (2023)

Partial Identification of Latent Correlations with Ordinal Data

Psychometrika. Doi: 10.1007/s11336-022-09898-y
Kost, Dominique; Kopperud, Karoline, Buch, Robert, Kuvaas, Bård & Olsson, Ulf Henning (2023)

The competing influence of psychological job control on family-to-work conflict

Journal of Occupational and Organizational Psychology. Doi: 10.1111/joop.12426
Broer, Tobias; Harmenberg, Karl, Krusell, Per & Öberg, Erik (2023)

Macroeconomic dynamics with rigid wage contracts

American Economic Review: Insights (AER). Doi: 10.1257/aeri.20210672
Golombek, Rolf; Greaker, Mads, Kverndokk, Snorre & Ma, Lin (2023)

Policies to promote Carbon Capture and Storage Technologies

Environmental and Resource Economics.
Moen, Espen Rasmus; Garibaldi, Pietro & Pissarides, Christopher (2023)

The SAM Approach to Epidemic Models

Research in Labor Economics. Doi: 10.1108/S0147-912120230000050001
Isachsen, Arne Jon & Gylfason, Thorvaldur (2022)

Awakening from the Chinese Dream

Challenge magazine. Doi: 10.1080/05775132.2022.2046881
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

Aquaculture, 561. Doi: 10.1016/j.aquaculture.2022.738678
Juodis, Artūras & Sarafidis, Vasilis (2022)

A Linear Estimator for Factor-Augmented Fixed-T Panels With Endogenous Regressors

Journal of business & economic statistics, 40(1), p. 1-15. Doi: 10.1080/07350015.2020.1766469
Costa, Francisco; Nunes, Leticia & Sanches, Fabio Miessi (2022)

How to Attract Physicians to Underserved Areas? Policy Recommendations from a Structural Model

Review of Economics and Statistics. Doi: 10.1162/rest_a_01155
Aastveit, Knut Are & Anundsen, André Kallåk (2022)

Asymmetric effects of monetary policy in regional housing markets

American Economic Journal: Macroeconomics, 14(4), p. 499-529. Doi: 10.1257/mac.20190011

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.
Boppart, Timo; Harmenberg, Karl, Krusell, Per & Olsson, Jonna (2022)

Integrated epi-econ assessment of vaccination

Journal of Economic Dynamics and Control, 140. Doi: 10.1016/j.jedc.2022.104308
Galle, Simon; Rodriguez-Clare, Andres & Yi, Moises (2022)

Slicing the Pie: Quantifying the Aggregate and Distributional Effects of Trade

Review of Economic Studies, 90(1), p. 331-375. Doi: 10.1093/restud/rdac020

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.
Byrne, David P.; Imai, Susumu, Jain, Neelam & Sarafidis, Vasilis (2022)

Instrument-free identification and estimation of differentiated products models using cost data

Journal of Econometrics, 228(2), p. 278-301. Doi: 10.1016/j.jeconom.2021.12.006
Schönhage, Nanna Lauritz & Geys, Benny (2022)

Politicians and Scandals that Damage the Party Brand

Legislative Studies Quarterly. Doi: 10.1111/lsq.12377
Heggedal, Tom-Reiel; Helland, Leif & Morton, Rebecca (2022)

Can Paying Politicians Well Reduce Corruption? The Effects of Wages and Uncertainty on Electoral Competition

Games and Economic Behavior, 135, p. 60-73. Doi: 10.1016/j.geb.2022.05.008
Eraslan, Sercan & Schröder, Maximilian (2022)

Nowcasting GDP with a pool of factor models and a fast estimation algorithm

International Journal of Forecasting. Doi: 10.1016/j.ijforecast.2022.07.009
Straume, Hans-Martin & Sudhakaran, Pratheesh O. (2022)

Seafood markets in transition

Aquaculture Economics & Management, 26(3), p. 253-258. Doi: 10.1080/13657305.2022.2102091
Cross, Jamie; Nguyen, Bao H. & Tran, Trung Duc (2022)

The role of precautionary and speculative demand in the global market for crude oil

Journal of applied econometrics, 37(5), p. 882-895. Doi: 10.1002/jae.2905
Furlanetto, Francesco; Hagelund, Kåre, Hansen, Frank & Robstad, Ørjan (2022)

Norges Bank Output Gap Estimates: Forecasting Properties, Reliability, Cyclical Sensitivity and Hysteresis

Oxford Bulletin of Economics and Statistics. Doi: 10.1111/obes.12524

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.
Kreiberg, David & Zhou, Xingwu (2022)

A Faster Procedure for Estimating SEMs Applying Minimum Distance Estimators With a Fixed Weight Matrix

Structural Equation Modeling. Doi: 10.1080/10705511.2022.2076093
Sørensen, Rune Jørgen; Iversen, Jon Marius Vaag, From, Johan & Bonesrønning, Hans (2022)

Parenting styles and school performance: evidence from second-generation immigrants in Norway

Scandinavian Journal of Educational Research. Doi: 10.1080/00313831.2022.2127882
Heggedal, Tom-Reiel; Helland, Leif & Knutsen, Magnus Våge (2022)

The power of outside options in the presence of obstinate types

Games and Economic Behavior, 136, p. 454-468. Doi: 10.1016/j.geb.2022.10.011
Cui, Guowei; Norkutė, Milda, Sarafidis, Vasilis & Yamagata, Takashi (2022)

Two-stage instrumental variable estimation of linear panel data models with interactive effects

Econometrics Journal, 25(2), p. 340-361. Doi: 10.1093/ectj/utab029

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.
Bergholt, Drago; Furlanetto, Francesco & Maffei-Faccioli, Nicolo (2022)

The decline of the labor share: new empirical evidence

American Economic Journal: Macroeconomics, 14(3), p. 163-198. Doi: 10.1257/mac.20190365
Capeleti, Paulo; Garcia, Marcio & Sanches, Fabio Miessi (2022)

Countercyclical Credit Policies and Banking Concentration: Evidence from Brazil

Journal of Banking & Finance, 143. Doi: 10.1016/j.jbankfin.2022.106589
Anderson, James L.; Asche, Frank, Garlock, Taryn, Hegde, Shraddha, Ropicki, Andrew & Straume, Hans-Martin (2022)

Impacts of COVID-19 on U.S. Seafood Availability

Journal of Agricultural & Food Industrial Organization. Doi: 10.1515/jafio-2022-0017
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

Journal of Housing Economics, 59. Doi: 10.1016/j.jhe.2022.101907
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

JEEMS. Journal of East European Management Studies, 27(3), p. 487-518. Doi: 10.5771/0949-6181-2022-3-487
Canova, Fabio & Ferroni, Filippo (2022)

Mind the gap: Stylized dynamic facts and structural models

American Economic Journal: Macroeconomics, 14(4), p. 104-135. Doi: 10.1257/mac.20200054

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)
Andersen, Jørgen Juel & Sørensen, Rune Jørgen (2022)

The zero-rent society: Evidence from hydropower and petroleum windfalls in Norwegian local governments

Journal of Public Economics, 209. Doi: 10.1016/j.jpubeco.2022.104650
Korotov, Sergey; Lund, Lars Fredrik Kirkebø & Vatne, Jon Eivind (2022)

Tight bounds for the dihedral angle sums of a pyramid

Applications of Mathematics. Doi: 10.21136/AM.2022.0010-22
Stauskas, Ovidijus (2022)

Complete Theory for CCE Under Heterogeneous Slopes and General Unknown Factors

Oxford Bulletin of Economics and Statistics. Doi: 10.1111/obes.12523
Brekke, Kurt Richard; Dalen, Dag Morten & Straume, Odd Rune (2022)

Paying for pharmaceuticals: uniform pricing versus two-part tariffs

Journal of Health Economics, 83. Doi: 10.1016/j.jhealeco.2022.102613
Grønneberg, Steffen; Foldnes, Njål & Marcoulides, Katerina (2022)

covsim: An R Package for Simulating Non-Normal Data for Structural Equation Models Using Copulas

Journal of Statistical Software, 102(3), p. 1-45. Doi: 10.18637/jss.v102.i03

Vis sammendrag
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.
Grønneberg, Steffen & Foldnes, Njål (2022)

Factor analyzing ordinal items requires substantive knowledge of response marginals

Psychological methods. Doi: 10.1037/met0000495
Oglend, Atle; Asche, Frank & Straume, Hans-Martin (2022)

Estimating Pricing Rigidities in Bilateral Transactions Markets

American Journal of Agricultural Economics, 104(1), p. 209-227. Doi: 10.1111/ajae.12230
Aastveit, Knut Are; Cross, Jamie & van Dijk, Herman K. (2022)

Quantifying Time-Varying Forecast Uncertainty and Risk for the Real Price of Oil

Journal of business & economic statistics. Doi: 10.1080/07350015.2022.2039159
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

Science, 375(6579), p. 386-388. Doi: 10.1126/science.abl4756
Andersen, Jørgen Juel; Johannesen, Niels & Rijkers, Bob (2022)

Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts

Journal of Political Economy, 130(2), p. 388-425. Doi: 10.1086/717455
Bruno, Lars Christian; Eloranta, Jari, Ojala, Jari & Pehkonen, Jaakko (2022)

Road to unity? Nordic economic convergence in the long run

Scandinavian Economic History Review. Doi: 10.1080/03585522.2022.2032318
Geys, Benny; Heggedal, Tom-Reiel & Sørensen, Rune Jørgen (2022)

Age and vote choice: Is there a conservative shift among older voters?

Electoral Studies: an international journal on voting and electoral systems and strategy, 78. Doi: 10.1016/j.electstud.2022.102485
Galeati, Lucio; Harang, Fabian Andsem & Mayorcas, Avi (2022)

Distribution dependent SDEs driven by additive fractional Brownian motion

Probability theory and related fields, p. 1-59. Doi: 10.1007/s00440-022-01145-w
Harang, Fabian Andsem; Tindel, Samy & Wang, Xiaohua (2022)

Volterra equations driven by rough signals 2: higher order expansions

Stochastics and Dynamics. Doi: 10.1142/S0219493723500028
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

Aquatic Living Resources, 35(15), p. 1-11. Doi: 10.1051/alr/2022017
Rebnor, Robert; Straume, Hans-Martin & Vårdal, Erling (2022)

Valutabruk i norsk utenrikshandel

Samfunnsøkonomen, p. 54-65.
Iachan, Felipe S.; Nenov, Plamen & Simsek, Alp (2021)

The Choice Channel of Financial Innovation

American Economic Journal: Macroeconomics, 13(2), p. 333-372. Doi: 10.1257/mac.20180429
ter Ellen, Saskia; Larsen, Vegard Høghaug & Thorsrud, Leif Anders (2021)

Narrative Monetary Policy Surprises and the Media

Journal of Money, Credit and Banking, 54(5), p. 1525-1549. Doi: 10.1111/jmcb.12868

Vis sammendrag
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.
Ellingsen, Jon; Larsen, Vegard Høghaug & Thorsrud, Leif Anders (2021)

News media versus FRED-MD for macroeconomic forecasting

Journal of applied econometrics, 37(1), p. 63-81. Doi: 10.1002/jae.2859

Vis sammendrag
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.
Mauritzen, Johannes & Sucarrat, Genaro (2021)

Increasing Or Diversifying Risk?Tail Correlations, Transmission Flows And Prices Across Wind Power Areas

Energy Journal, 43(3), p. 105-131. Doi: 10.5547/01956574.43.3.jmau
Ile, Runar (2021)

Deformation theory of Cohen-Macaulay approximation

Journal of Algebra, 568, p. 437-466. Doi: 10.1016/j.jalgebra.2020.09.039
Korotov, Sergey; Lund, Lars Fredrik Kirkebø & Vatne, Jon Eivind (2021)

Improved Maximum Angle Estimate for Longest-Edge Bisection

International journal of computational geometry and applications, 31(4), p. 183-192. Doi: 10.1142/S0218195922500017
Canova, Fabio & Matthes, Christian (2021)

A composite likelihood approach for dynamic structural models

Economic Journal, 131(638), p. 2447-2477. Doi: 10.1093/ej/ueab004
Andersen, Jørgen Juel; Nordvik, Frode Martin & Tesei, Andrea (2021)

Oil Price Shocks and Conflict Escalation: Onshore versus Offshore

Journal of Conflict Resolution, p. 1-30. Doi: 10.1177/00220027211042664
Bjørnland, Hilde C; Nordvik, Frode Martin & Rohrer, Maximilian (2021)

Supply flexibility in the shale patch: Evidence from North Dakota

Journal of applied econometrics, 36(3), p. 273-292. Doi: 10.1002/jae.2808
Bos, Olivier; Martinez, Francisco Gomez, Onderstal, Sander & Truyts, Tom (2021)

Signalling in auctions: Experimental evidence

Journal of Economic Behavior and Organization, 187, p. 448-469. Doi: 10.1016/j.jebo.2021.04.001
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
Fiva, Jon H.; Geys, Benny, Heggedal, Tom-Reiel & Sørensen, Rune Jørgen (2021)

Political Alignment and Bureaucratic Pay

Journal of public administration research and theory, 31(3), p. 596-615. Doi: 10.1093/jopart/muaa053
Juodis, Artūras; Karavias, Yiannis & Sarafidis, Vasilis (2021)

A homogeneous approach to testing for Granger non-causality in heterogeneous panels

Empirical Economics, 60, p. 93-112. Doi: 10.1007/s00181-020-01970-9
Hansen, Bjørn Gunnar & Olsson, Ulf H. (2021)

Specification Search in Structural Equation Modeling (SEM): How Gradient Component-wise Boosting can Contribute

Structural Equation Modeling. Doi: 10.1080/10705511.2021.1935263
Foldnes, Njål & Grønneberg, Steffen (2021)

Non-normal Data Simulation using Piecewise Linear Transforms

Structural Equation Modeling, p. 1-12. Doi: 10.1080/10705511.2021.1949323
Canova, Fabio & Matthes, Christian (2021)

Dealing with misspecification in structural macroeconometric models

Quantitative Economics, 12(2), p. 313-350. Doi: 10.3982/QE1413
Lu, Jingfeng; Lu, Zongwei & Riis, Christian (2021)

Perfect bidder collusion through bribe and request

Games and Economic Behavior, 129, p. 1-14. Doi: 10.1016/j.geb.2021.05.001
Geys, Benny & Sørensen, Rune Jørgen (2021)

Public Sector Employment and Voter Turnout

American Political Science Review, 116(1), p. 367-373. Doi: 10.1017/S000305542100099X
Landazuri Concha, Ursula Alejandra; Asche, Frank & Straume, Hans-Martin (2021)

Dynamics of Buyer-Seller Relations in Norwegian Wine Imports

Journal of Wine Economics, 16(1), p. 68-85. Doi: 10.1017/jwe.2020.37

Vis flere publikasjoner

Institutt for samfunns­økonomi

Publikasjoner

Institutt for samfunnsøkonomi