An empirical study of monetary policy shocks in Norway
dc.contributor.advisor | Mork, Knut Anton | |
dc.contributor.author | Olsen, Eirik Rønningstad | |
dc.date.accessioned | 2018-10-01T08:23:44Z | |
dc.date.available | 2018-10-01T08:23:44Z | |
dc.date.issued | 2018 | |
dc.identifier.uri | http://hdl.handle.net/11250/2565379 | |
dc.description.abstract | This paper aims to investigate the transmission mechanism of monetary policy under inflation targeting regime in Norway with a vector autoregression (VAR). I exploit monetary policy shocks to ensure a causal relationship between the macroeconomic variables. These structural shocks are identified through Cholesky decomposition of the variance/covariance matrix in a reduced form VAR after imposing short run restrictions. The intertemporal relationships are illustrated with impulse responses. I find that a contractionary monetary policy shock lead to a sluggish decrease in production, an immediate appreciation in the exchange rate and a temporary rise in inflation. The results indicate that monetary policy has statistically significant effect on macroeconomic variables. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | NTNU | nb_NO |
dc.title | An empirical study of monetary policy shocks in Norway | nb_NO |
dc.type | Master thesis | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200 | nb_NO |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | nb_NO |
dc.source.pagenumber | 27 | nb_NO |