Norway: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway

International Monetary Fund

No 2016/214, IMF Staff Country Reports from International Monetary Fund

Abstract: The paper examines the nature and scale of spillovers to a number of European countries from monetary policies in the euro area and the United States using three different approaches. The analysis focuses on selected non-euro-area countries in Europe: the Czech Republic, Denmark, Hungary, Poland, and Sweden. Recent developments in these countries’ sovereign bond yields and exchange rates are indicative of potential spillovers. The paper’s most consistent analytical finding is for spillovers to lower domestic bond yields, with the potential for repercussions on credit expansion and asset prices. More recently, the event study uncovered evidence of upward pressure on the exchange rate.

Keywords: ISCR; CR; price; economy; house price inflation; liability positions vis-à-vis nonresident; inflation expectation; money market rate; central government debt; Oil prices; Housing prices; Inflation; Labor markets; Global (search for similar items in EconPapers)
Pages: 65
Date: 2016-07-05
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=44044 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2016/214

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().