Ansattprofil

Karin Kinnerud

Postdoktorstipendiat

Institutt for samfunnsøkonomi

Romnummer B3I-031
Telefon +4741274290
E-post karin.kinnerud@bi.no

Biografi

Karin Kinnerud is Assistant Professor of economics at BI Norwegian Business School. Her research focuses on macroeconomics, housing, household finance, and monetary policy. Karin earned her PhD in 2020 from the Institute for International Economic Studies at Stockholm University and holds a MSc in quantitative financial economics from Oklahoma State University.

Please see Karin’s personal homepage for further information.

Ekspertområder

Klimaøkonomi
Husholdningenes sparing
Makroøkonomi
Pengepolitikk

Publikasjoner

Viser 4 av 4 publikasjon(er)

Artikkel Kasper Kragh Balke, Markus Karlman, Karin Kinnerud (2025)

Winners and losers from property taxation

Quantitative Economics 16(4) s. 1147-1187 Doi: https://doi.org/10.3982/qe2270

This paper considers optimal taxation of housing capital. To this end, we employ a life‐cycle model calibrated to the U.S. economy, where asset holdings and labor productivity vary across households, and tax reforms lead to changes in house and rental prices, interest rates, and wages. We find that the optimal property tax in the long run is considerably higher than today, partly due to the relatively inelastic demand and supply of housing. A higher property tax also reduces house prices and causes a reallocation from housing to business capital, which in turn decreases interest rates and increases wages. These equilibrium effects allow for an improved consumption smoothing over the life cycle. However, most current households would incur substantial welfare losses from an implementation of a higher property tax, since house prices fall, and a majority own their home. Hence, when accounting for transitional dynamics, it is not clear that a higher property tax is feasible or preferred.

Artikkel Karin Kinnerud (2025)

The effects of monetary policy through housing and mortgage choices on aggregate demand

Quantitative Economics 16(2) s. 659-703 Doi: https://doi.org/10.3982/QE2160

Artikkel Jeanette Fjære-Lindkjenn, Knut Are Aastveit, Markus Johan Karlman, Karin Kinnerud, Ragnar Enger Juelsrud, Ella Getz Wold (2024)

Hvordan virker utlånsforskriften? En oppsummering av forskningslitteraturen

Samfunnsøkonomen 138(2)

I denne artikkelen forsøker vi å svare på om utlånsforskriften har virket etter hensikten og hvilke kostnader den påfører husholdningene. Forskningslitteraturen indikerer at boliglånsregulering bidrar til noe lavere gjelds- og boligprisvekst, men at det er mer usikkert om den reduserer husholdningenes sårbarhet for uforutsette hendelser som renteøkninger og arbeidsledighet. Utlånsforskriften påfører samtidig mange husholdninger kostnader ved at den begrenser muligheten for konsumglatting og kan gjøre det vanskeligere for unge å kjøpe sin første bolig. Reguleringen kan også forsterke viktigheten av formuende foreldre for muligheten til boligkjøp. Høy inflasjon og rente kan redusere behovet for forskriften og øke kostnadene.

Artikkel Markus Johan Karlman, Karin Kinnerud, Kasper Kragh-Sørensen (2020)

Costly reversals of bad policies: The case of the mortgage interest deduction

Review of economic dynamics 40 Doi: https://doi.org/10.1016/j.red.2020.08.003

This paper measures the welfare effects of removing the mortgage interest deduction under a variety of implementation scenarios. To this end, we build a life-cycle model with heterogeneous households calibrated to the U.S. economy, which features long-term mortgages and costly refinancing. In line with previous research, we find that most households would prefer to be born into an economy without the deductibility. However, when we incorporate transitional dynamics, less than forty percent of households are in favor of a reform and the average welfare effect is negative. This result holds under a number of removal designs.

Viser 3 av 3 publikasjon(er)

Kronikk Martin B. Holm, Gisle James Natvik, Karin Kinnerud, Kjetil Storesletten (2024)

Akademisk grad
År	Akademisk institusjon	Grad
2020	Stockholm University, Institute for International Economic Studies	PhD

BI Business Review artikler:

BI Business Review

På høy tid å justere avdragskravet

Man bør spare mindre ved et midlertidig fall i kjøpekraften, ikke mer. Avdragskravet trekker i feil retning.
BI Business Review

Regulering av boliglån har store kostnader

Boliglånsreguleringen gir begrensede gevinster. Samtidig har den betydelige kostnader, som trolig er forsterket i takt med høyere inflasjon og rente.

Karin Kinnerud

Biografi

Ekspertområder

Publikasjoner

Winners and losers from property taxation

The effects of monetary policy through housing and mortgage choices on aggregate demand

Hvordan virker utlånsforskriften? En oppsummering av forskningslitteraturen

Costly reversals of bad policies: The case of the mortgage interest deduction

På høy tid å justere avdragskravet

Regulering av boliglån har store kostnader

Guest on the podcast Boligbobla: “Inflasjonsjusterte boligpriser?”

The inflation tilt effect

The inflation tilt effect

Down-payment requirements: implications for portfolio choice and consumption

Monetary Policy and Household Indebtedness – How Important are Fisher and Tilt Effects?

Mortgage lending standards: Implications for consumption dynamics

The Inflation Tilt Effect

Down-payment requirements in the housing market: Implications for portfolio choice, consumption dynamics, and welfare

Dominated pension investments: the role of search frictions and unawareness

Down-payment requirements and consumption responses to income shocks

Hva er optimal boligskatt?

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Kommer kronan överleva krisen?

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Utlånsforskriften og kreditt: Hva betyr inflasjonen for forgjeldede norske husholdninger?

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements: Implications for portfolio choice and consumption

Down-payment requirements and consumption responses to income shocks

The effects of monetary policy through housing and mortgage choices on aggregate demand

Down-payment requirements and consumption responses to income shocks

The effects of monetary policy through housing and mortgage choices on aggregate demand

Dominated pension investments: the role of search frictions and unawareness

Egenkapitalkrav og husholdningenes konsum

Dominated pension investments: the role of search frictions and unawareness

Down-payment requirements and consumption responses to income shocks

Down-payment requirements and consumption responses to income shocks

Do indebted households benefit from inflation?

Hvordan påvirker egenkapitalkrav ved boligkjøp husholdningenes konsum?

Down-payment requirements and consumption responses to income shocks

Down-payment requirements and consumption responses to income shocks

Down-payment requirements and consumption responses to income shocks

The effects of monetary policy through housing and mortgage choices on aggregate demand

Down-payment requirements and consumption responses to income shocks

Down-payment requirements and consumption responses to income shocks

The effects of monetary policy through housing and mortgage choices on aggregate demand

Monetary Policy and the Mortgage Market

Monetary policy and the mortgage market

The effects of monetary policy through housing and mortgage choices on aggregate demand

Mortgage lending standards: Implications for consumption dynamics

Mortgage lending standards: Implications for consumption dynamics

Down-payment requirements and the consumption response to income shocks: Implications for fiscal and monetary policy

Paneldeltaker i forbindelse med foredrag av Amir Sufi

Monetary policy and the mortgage market

Monetary policy and the mortgage market

BI Business Review artikler:

På høy tid å justere avdragskravet

Regulering av boliglån har store kostnader