Economic Bulletin articles from April 2005

Economic Bulletin archives from April 2005

Economic perspectives.
April 1, 2005... Address by Governor Svein Gjedrem at the meeting of the Supervisory Council of Norges Bank on Thursday, 17 February 2005 Introduction This year, Norway is commemorating the centenary of the dissolution of the union with Sweden....

Evaluation of Norges Bank's projections for 2004.
April 1, 2005... The assessments of capacity utilisation in the Norwegian economy in 2004, measured by estimates of the output gap, changed only moderately through 2003 and 2004. For the past year, Norges Bank has projected that the Norwegian economy was...

What drives house prices?
April 1, 2005... House prices have more than tripled since 1992. After having fallen during the last part of 2002 and the beginning of 2003, house prices rose by more than 20 per cent from May 2003 to November 2004. We analyse factors underlying the pronounced...

Monetary policy and the trade-off between inflation and output variability.
April 1, 2005... This article explores the consequences of various approaches to the conduct of monetary policy. A small, calibrated model of the Norwegian economy is used, which highlights the short-run trade-off between stabilising inflation and stabilising...

Statistical annex.
April 1, 2005... Financial institution balance sheets 1. Norges Bank. Balance sheet 2. Norges Bank. Specification of international reserves 3. State lending institutions. Balance sheet 4. Banks. Balance sheet 5. Banks. Loans and deposits...