An Independent Review of Monetary Policy and Institutions in Norway

The Centre for Monetary Economics (CME) at the Norwegian School of Management BI has for the third time invited a committee of economists for Norges Bank Watch, with the objective to evaluate the monetary-policy regime in Norway and Norges Bank’s conduct of monetary policy. The new committee for Norges Bank Watch 2002 consists of Professor Lars E.O. Svensson (chair), Princeton University, Chief Economist Kjetil Houg, Alfred Berg, Doctorate Student Haakon O.Aa. Solheim, Norwegian School of Management BI, and Professor Erling Steigum, Norwegian School of Management BI. The aim of Norges Bank Watch is to contribute to the general discussion on monetary policy and institutions among the political system, the academic community and other interested parties. Two years ago, Norges Bank Watch 2000 suggested that the Bank’s actual interpretation of its stable exchange-rate mandate should be formalized as a flexible inflation-targeting regime. In March 2001, the government introduced a formal inflation target regime. As was the case in last year’s report, we do not have the ambitions to suggest another major change of the system, but we hope to highlight important aspects of the present regime and we recommend a number of possible improvements of the regime.

Økonomiske paradokser

I dette arbeidsnotatet er samlet kommentarartikler fra Finansavisen skrevet av Kjetil Houg (Alfred Berg ABN AMRO og Folketrygdfondet), Frank Jullum (Fokus Bank) og Steinar Juel (Nordea). Notatet inneholder 15 artikler skrevet i perioden juni 2003-januar 2007

Norges Bank Watch 2002

The Centre for Monetary Economics (CME) at the Norwegian School of Management BI has for the third time invited a committee of economists for Norges Bank Watch, with the objective to evaluate the monetary-policy regime in Norway and Norges Bank’s conduct of monetary policy. The committee for Norges Bank Watch 2002 consists of Professor Lars E.O. Svensson (chair), Princeton University, Chief Economist Kjetil Houg, Alfred Berg, Doctorate Student Haakon O.Aa. Solheim, Norwegian School of Management BI, and Professor Erling Steigum, Norwegian School of Management BI. The committee met in Oslo in June 2002, had discussions with key officials at Norges Bank and the Ministry of Finance, and has worked on its report until September 2002

Norges Bank Watch 2003

The Centre for Monetary Economics (CME) at the BI Norwegian School of Management has for the fourth time invited a committee of economists to participate on Norges Bank Watch, with the objective of evaluating the monetary policy regime in Norway and Norges Bank’s conduct of monetary policy. This time the committee has focused on the conduct of policy rather than addressing institutional issues. The committee refers to Norges Bank Watch 2002 for a detailed assessment of the monetary policy regime itself. The new committee for Norges Bank Watch 2003 consists of Chief Economist Thomas Ekeli, Pareto Securities, Senior Economist Anne Kari Haug, ECON, Nordic Head of Economics Kjetil Houg, Alfred Berg ABN AMRO and Professor Erling Steigum, BI Norwegian School of Management. Steigum joined the group in late August. Houg has acted as coordinator of the group and has organized its work