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Moss, Jonas & Grønneberg, Steffen
(2023)
Partial Identification of Latent Correlations with Ordinal Data
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Moen, Espen Rasmus; Garibaldi, Pietro & Pissarides, Christopher
(2023)
The SAM Approach to Epidemic Models
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Sigstad, Henrik & Lambais, Guilherme
(2023)
Judicial subversion: The effects of political power on court outcomes
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Irarrazabal Flores, Alfonso; Ma, Lin & Parra-Alvarez, Juan Carlos
(2023)
Optimal asset allocation for commodity sovereign wealth funds
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Pettersen, Ingrid Kristine; Asche, Frank, Bronnmann, Julia, Sogn-Grundvåg, Geir & Straume, Hans-Martin
(2023)
Is capture-based aquaculture viable? The case of Atlantic cod in Norway
Show summary
Capture-based aquaculture (CBA) is an important branch of the aquaculture industry that differs from closed cycle farming in that the stocking material consists of captured wild fish or other aquatic organisms. By skipping the difficult early production stages of fish farming, producers can test whether assumed market advantages such as high quality and consistent supply result in higher prices – and whether these are high enough to incentivize further development of CBA and eventually close the production cycle. CBA-initiatives can also be supported by different policy measures to stimulate the activity. Since these measures involve costs, it is important to know at what level and for how long these measures should be implemented to promote economically sustainable CBA activities. We study CBA of Atlantic cod (Gadus morhua) in Norway and find an average price premium of 26% compared to wild harvested cod, but with large interannual variation. However, declining quantities of cod from CBA following reductions in a quota bonus scheme to stimulate activity, indicates that the price premium is not sufficiently large to incentivize further development of the CBA branch of the Norwegian cod industry.
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Parra-Alvarez, Juan Carlos; Ma, Lin & Irarrazabal Flores, Alfonso
(2023)
Optimal asset allocation for commodity sovereign wealth funds
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Kost, Dominique; Kopperud, Karoline, Buch, Robert, Kuvaas, Bård & Olsson, Ulf Henning
(2023)
The competing influence of psychological job control on family-to-work conflict
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Harang, Fabian Andsem & Mayorcas, Avi
(2023)
Pathwise regularisation of singular interacting particle systems and their mean field limits
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Harang, Fabian Andsem; Bechtold, Florian & Rana, Nimit
(2023)
Non-linear Young equations in the plane and pathwise regularization by noise for the stochastic wave equation
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Sørensen, Rune Jørgen
(2023)
Educated politicians and government efficiency: Evidence from Norwegian local government
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Dahl, Kristina Rognlien; Agrell, Christian & Hafver, Andreas
(2023)
Optimal sequential decision making with probabilistic digital twins
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Schönhage, Nanna Lauritz; Bækgaard, Martin & Geys, Benny
(2023)
The Politics of Distributing Blame and Credit: Evidence from a Survey Experiment with Norwegian Local Politicians
European Journal of Political Research.
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Geys, Benny; Murdoch, Zuzana & Sørensen, Rune Jørgen
(2023)
Public Employees as Elected Politicians: Assessing the Substantive Effects of Passive Representation
Journal of Politics.
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Mork, Knut Anton; Harang, Fabian Andsem, Trønnes, Haakon Andreas & Bjerketvedt, Vegard Skonseng
(2023)
Dynamic spending and portfolio decisions with a soft social norm
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Carvalho, Bruno; Custódio, Claudia, Geys, Benny, Mendes, Diogo & Peralta, Susana
(2023)
Information, Perceptions, and Electoral Behaviour of Young Voters: A Randomised Controlled Experiment
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Harang, Fabian Andsem; Wang, Xiaohua & Tindel, Samy
(2023)
Volterra Equations Driven by Rough Signals 3: Probabilistic Construction of the Volterra Rough Path for Fractional Brownian Motions
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Golombek, Rolf; Greaker, Mads, Kverndokk, Snorre & Ma, Lin
(2023)
Policies to Promote Carbon Capture and Storage Technologies
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Aastveit, Knut Are; Albuquerque, Bruno & Anundsen, André Kallåk
(2023)
Changing Supply Elasticities and Regional Housing Booms
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Brekke, Kurt Richard; Dalen, Dag Morten & Straume, Odd Rune
(2023)
The price of cost-effectiveness thresholds under therapeutic competition in pharmaceutical markets
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Broer, Tobias; Harmenberg, Karl, Krusell, Per & Öberg, Erik
(2023)
Macroeconomic dynamics with rigid wage contracts
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Geys, Benny; Connolly, Sara, Kassim, Hussein & Murdoch, Zuzana
(2023)
Staff Reallocations and Employee Attitudes towards Organizational Aims: Evidence using Longitudinal Data from the European Commission
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Costa, Francisco; Nunes, Leticia & Sanches, Fabio Miessi
(2022)
How to Attract Physicians to Underserved Areas? Policy Recommendations from a Structural Model
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Grønneberg, Steffen; Foldnes, Njål & Marcoulides, Katerina
(2022)
covsim: An R Package for Simulating Non-Normal Data for Structural Equation Models Using Copulas
Show summary
In factor analysis and structural equation modeling non-normal data simulation is traditionally performed by specifying univariate skewness and kurtosis together with the target covariance matrix. However, this leaves little control over the univariate distributions and the multivariate copula of the simulated vector. In this paper we explain how a more flexible simulation method called vine-to-anything (VITA) may be obtained from copula-based techniques, as implemented in a new R package, covsim. VITA is based on the concept of a regular vine, where bivariate copulas are coupled together into a full multivariate copula. We illustrate how to simulate continuous and ordinal data for covariance modeling, and how to use the new package discnorm to test for underlying normality in ordinal data. An introduction to copula and vine simulation is provided in the appendix.
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Boppart, Timo; Harmenberg, Karl, Krusell, Per & Olsson, Jonna
(2022)
Integrated epi-econ assessment of vaccination
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Juodis, Artūras & Sarafidis, Vasilis
(2022)
A Linear Estimator for Factor-Augmented Fixed-T Panels With Endogenous Regressors
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Byrne, David P.; Imai, Susumu, Jain, Neelam & Sarafidis, Vasilis
(2022)
Instrument-free identification and estimation of differentiated products models using cost data
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Geys, Benny; Heggedal, Tom-Reiel & Sørensen, Rune Jørgen
(2022)
Age and vote choice: Is there a conservative shift among older voters?
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Heggedal, Tom-Reiel; Helland, Leif & Morton, Rebecca
(2022)
Can Paying Politicians Well Reduce Corruption? The Effects of Wages and Uncertainty on Electoral Competition
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Galle, Simon; Rodriguez-Clare, Andres & Yi, Moises
(2022)
Slicing the Pie: Quantifying the Aggregate and Distributional Effects of Trade
Show summary
We develop a multi-sector gravity model with heterogeneous workers to quantify the aggregate and group-level welfare effects of trade. The model generalizes the specific-factors intuition to a setting with labor reallocation, leads to a parsimonious formula for the group-level welfare effects from trade, and nests the aggregate results in Arkolakis et al. (2012). We estimate the model using the structural relationship between China-shock driven changes in manufacturing employment and average earnings across US groups defined as commuting zones. We find that the China shock increases average welfare but some groups experience losses as high as four times the average gain. However, adjusting for plausible measures of inequality aversion barely affects the welfare gains. We also develop and estimate an extension of the model that endogenizes labor force participation and unemployment, finding similar welfare effects from the China shock.
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Canova, Fabio & Ferroni, Filippo
(2022)
Mind the gap: Stylized dynamic facts and structural models
Show summary
We study what happens to identified shocks and to dynamic responses
when the data generating process features q disturbances but q 1 < q
variables are used in an empirical model. Identified shocks are linear
combinations of current and past values of all structural disturbances
and do not necessarily combine disturbances of the same
type. Theory-
based restrictions may be insufficient to obtain structural
dynamics. We revisit the evidence regarding the transmission
of house price and of uncertainty shocks. We provide suggestions on
how to compare the dynamics of larger scale DSGEs models with
smaller scale VARs. (JEL E12, E13, E23, E31, E43, R31)
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Andersen, Jørgen Juel & Sørensen, Rune Jørgen
(2022)
The zero-rent society: Evidence from hydropower and petroleum windfalls in Norwegian local governments
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Cui, Guowei; Norkutė, Milda, Sarafidis, Vasilis & Yamagata, Takashi
(2022)
Two-stage instrumental variable estimation of linear panel data models with interactive effects
Show summary
This paper analyses the instrumental variables (IV) approach put forward by Norkute et al. (2021), in the context of static linear panel data models with interactive effects present in the error term and the regressors. Instruments are obtained from transformed regressors, thereby it is not necessary to search for external instruments. We consider a two-stage IV (2SIV) and a mean-group IV (MGIV) estimator for homogeneous and heterogeneous slope models, respectively. The asymptotic analysis reveals that: (i) the NT−−−√-consistent 2SIV estimator is free from asymptotic bias that may arise due to the estimation error of the interactive effects, while (ii) existing estimators can suffer from asymptotic bias; (iii) the proposed 2SIV estimator is asymptotically as efficient as existing estimators that eliminate interactive effects jointly in the regressors and the error, while (iv) the relative efficiency of the estimators that eliminate interactive effects only in the error term is indeterminate. A Monte Carlo study confirms good approximation quality of our asymptotic results.
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Straume, Hans-Martin & Sudhakaran, Pratheesh O.
(2022)
Seafood markets in transition
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Cross, Jamie; Nguyen, Bao H. & Tran, Trung Duc
(2022)
The role of precautionary and speculative demand in the global market for crude oil
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Stauskas, Ovidijus
(2022)
Complete Theory for CCE Under Heterogeneous Slopes and General Unknown Factors
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Furlanetto, Francesco; Hagelund, Kåre, Hansen, Frank & Robstad, Ørjan
(2022)
Norges Bank Output Gap Estimates: Forecasting Properties, Reliability, Cyclical Sensitivity and Hysteresis
Show summary
This paper documents the suite of models (SoMs) used by Norges Bank to estimate theoutput gap. The models are estimated using data on GDP, unemployment, inflation, wages,investment, house prices and credit. We evaluate the estimated output gap series in termsof its forecasting properties, its reliability and its cyclical sensitivity to various measuresof demand and supply shocks. A simple equally weighted average of estimates fromdifferent models features a better forecasting performance than each individual model. Inaddition, it helps predicting inflation in pseudo real time and exhibits limited variationswhen new data become available. The summary measure of potential output respondsstrongly and rapidly to permanent shocks and to narrative measures of technology shocksbut, although to a more limited extent, also to demand shocks, thus partly capturinghysteresis effects.
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Bergholt, Drago; Furlanetto, Francesco & Maffei-Faccioli, Nicolo
(2022)
The decline of the labor share: new empirical evidence
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Aastveit, Knut Are & Anundsen, André Kallåk
(2022)
Asymmetric effects of monetary policy in regional housing markets
Show summary
The responsiveness of house prices to monetary policy shocks depends on the nature of the shock—expansionary versus contractionary—and on local housing supply elasticities. These findings are established using a panel of 263 US metropolitan areas. Expansionary monetary policy shocks have a larger impact on house prices in supply inelastic areas. Contractionary shocks are orthogonal to housing supply elasticities. In supply elastic areas, contractionary shocks have a greater impact on house prices than expansionary shocks. The opposite holds true in supply inelastic areas. We attribute this to asymmetric housing supply adjustments.
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Brekke, Kurt Richard; Dalen, Dag Morten & Straume, Odd Rune
(2022)
Paying for pharmaceuticals: uniform pricing versus two-part tariffs
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Rebnor, Robert; Straume, Hans-Martin & Vårdal, Erling
(2022)
Valutabruk i norsk utenrikshandel
Samfunnsøkonomen, p. 54-65.
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Harang, Fabian Andsem; Tindel, Samy & Wang, Xiaohua
(2022)
Volterra equations driven by rough signals 2: higher order expansions
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Galeati, Lucio; Harang, Fabian Andsem & Mayorcas, Avi
(2022)
Distribution dependent SDEs driven by additive fractional Brownian motion
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Anundsen, André Kallåk; Kivedal, Bjørnar Karlsen, Røed Larsen, Erling & Thorsrud, Leif Anders
(2022)
Behavioral changes in the housing market before and after the Covid-19 lockdown
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Straume, Hans-Martin; Asche, Frank, Oglend, Atle, Abrahamsen, Eirik Bjorheim, Birkenbach, Anna M., Langguth, Johannes, Lanquepin, Guillaume & Roll, Kristin Helen
(2022)
Impacts of Covid-19 on Norwegian salmon exports: A firm-level analysis
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Asche, Frank; Straume, Hans-Martin, Garlock, Taryn M., Johansen, Ulf, Kvamsdal, Sturla Furunes, Nygård, Rune, Pincinato, Ruth Beatriz & Tveterås, Ragnar
(2022)
Challenges and opportunities: Impacts of COVID-19 on Norwegian seafood exports
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Anderson, James L.; Asche, Frank, Garlock, Taryn, Hegde, Shraddha, Ropicki, Andrew & Straume, Hans-Martin
(2022)
Impacts of COVID-19 on U.S. Seafood Availability
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Sørensen, Rune Jørgen; Iversen, Jon Marius Vaag, From, Johan & Bonesrønning, Hans
(2022)
Parenting styles and school performance: evidence from second-generation immigrants in Norway
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Grønneberg, Steffen & Foldnes, Njål
(2022)
Factor analyzing ordinal items requires substantive knowledge of response marginals
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Asche, Frank; Straume, Hans-Martin, Yang, Bixuan, Gephart, Jessica A., Smith, Martin D., Anderson, James L., Camp, Edward V., Garlock, Taryn M., Love, David C. & Oglend, Atle
(2022)
China’s seafood imports – not for domestic consumption? : an estimated 74.9% of China's seafood imports are reexported
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Oglend, Atle; Asche, Frank & Straume, Hans-Martin
(2022)
Estimating Pricing Rigidities in Bilateral Transactions Markets
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Stauskas, Ovidijus & Westerlund, Joakim
(2022)
Tests of Equal Forecasting Accuracy for Nested Models with Estimated CCE Factors
Journal of business & economic statistics, 40(4), p. 1745-1758.
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Stauskas, Ovidijus; Westerlund, Joakim & Norkute, Milda
(2022)
The factor analytical approach in trending near unit root panels
Journal of Time Series Analysis, 43(3), p. 501-508.
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Capeleti, Paulo; Garcia, Marcio & Sanches, Fabio Miessi
(2022)
Countercyclical Credit Policies and Banking Concentration: Evidence from Brazil
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Schönhage, Nanna Lauritz & Geys, Benny
(2022)
Politicians and Scandals that Damage the Party Brand
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Eraslan, Sercan & Schröder, Maximilian
(2022)
Nowcasting GDP with a pool of factor models and a fast estimation algorithm
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Andersen, Jørgen Juel; Johannesen, Niels & Rijkers, Bob
(2022)
Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts
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Korotov, Sergey; Lund, Lars Fredrik Kirkebø & Vatne, Jon Eivind
(2022)
Tight bounds for the dihedral angle sums of a pyramid
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Iversen, Nina; Hem, Leif Egil & Olsson, Ulf H.
(2022)
Willingness to buy US products in three Southeast European countries: The effects of cognitive, affective and conative components of country-of-origin image
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Bruno, Lars Christian; Eloranta, Jari, Ojala, Jari & Pehkonen, Jaakko
(2022)
Road to unity? Nordic economic convergence in the long run
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Aastveit, Knut Are; Cross, Jamie & van Dijk, Herman K.
(2022)
Quantifying Time-Varying Forecast Uncertainty and Risk for the Real Price of Oil
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Kreiberg, David & Zhou, Xingwu
(2022)
A Faster Procedure for Estimating SEMs Applying Minimum Distance Estimators With a Fixed Weight Matrix
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Heggedal, Tom-Reiel; Helland, Leif & Knutsen, Magnus Våge
(2022)
The power of outside options in the presence of obstinate types
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Isachsen, Arne Jon & Gylfason, Thorvaldur
(2022)
Awakening from the Chinese Dream