Norway: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 197

Publication date: June 2005

ISBN: 9781451829778

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Inflation , Economics- Macroeconomics , Money and Monetary Policy , ISCR , CR , import price , inflation targeting framework , import prices , headline inflation , inflation targeting regime , interest rate rule , Inflation , Inflation targeting , Import prices , Consumer price indexes , Real exchange rates , Australia and New Zealand , Global , Middle East , Europe

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Summary

This Selected Issues paper analyzes inflation in Norway with a view to shedding light on this surprising development and the possible near-term course of inflation, using statistical and econometric analyses. The paper reviews recent developments of monetary policy and inflation in Norway, applies statistical and econometric tools to identify factors influencing inflation, and describes the implications of the analysis for policymaking. Using data for six advanced small open economies explicitly targeting inflation, the paper examines empirically whether deviations of the exchange rate from their equilibrium levels systematically affect the conduct of monetary policy.