Research Centre

Centre for Applied Macro- and Petroleum Economics (CAMP)

CAMP is established to bring together economists working on applied macroeconomic issues, with special emphasis on energy economics.

  • All Items
  • Publications
  • Working Papers
  • Carlo Altavilla, Fabio Canova and Matteo Ciccarelli

    Mending the broken link: heterogeneous bank lending and monetary policy pass-through.

    Forthcoming in: Journal  of  Monetary Economics

  • Drago Bergholt, Vegard H. Larsen and Martin Seneca

    Business Cycles In An Oil Economy

    Forthcoming in: Journal of International Money and Finance

  • Fabio Canova and Mehdi Hamidi Sahneh

    Are Small-Scale SVARs Useful for Business Cycle Analysis? Revisiting Non-Fundamentalness

    Forthcoming in: Journal  of  the  European  Economic  Association 

  • Hilde C. Bjørnland, Vegard H. Larsen and Junior Maih

    Oil and macroeconomic (in)stability

    Forthcoming in: American Economic Journal: Macroeconomics

  • Vegard H. Larsen and Leif Anders Thorsrud

    The Value of News for Economic Developments

    Forthcoming in: Journal of Econometrics

  • Ragnar Torvik

    Should Developing Countries Establish Petroleum Funds?

    Forthcoming in: The Energy Journal

  • Marco J. Lombardi and Francesco Ravazzolo

    Oil price density forecasts: Exploring the linkages with stock markets

    Published in: Journal of Commodity Markets, 2016, Vol 2(1), 45-57

  • Thomas S. Gundersen

    The Impact of U.S. Supply Shocks on the Global Oil Price

    CAMP Working Paper Series No 7/2018

  • Vegard H. Larsen and Leif Anders Thorsrud

    Business cycle narratives

    CAMP Working Paper Series No 6/2018

  • Leopoldo Catania, Stefano Grassi and Francesco Ravazzolo

    Forecasting Cryptocurrencies Financial Time Series

    CAMP Working Paper Series No 5/2018

  • Hilde C. Bjørnland, Leif Anders Thorsrud and Ragnar Torvik

    Dutch Disease Dynamics Reconsidered

    CAMP Working Paper Series No 4/2018

  • Leopoldo Catania, Stefano Grassi and Francesco Ravazzolo

    Predicting the Volatility of Cryptocurrency Time–Series

    CAMP Working Paper Series No 3/2018

  • Angelica Gianfreda, Francesco Ravazzolo and Luca Rossini

    Comparing the Forecasting Performances of Linear Models for Electricity Prices with High RES Penetration

    CAMP Working Paper Series No 2/2018

  • Komla Mawulom Agudze, Monica Billio, Roberto Casarin and Francesco Ravazzolo

    Markov Switching Panel with Network Interaction Effects

    CAMP Working Paper Series No 1/2018

  • Andrew Binning and Junior Maih

    Modelling Occasionally Binding Constraints Using Regime-Switching

    CAMP Working Paper Series No 9/2017

  • Knut Are Aastveit, André K. Anundsen and Eyo I. Herstad

    Residential investment and recession predictability

    CAMP Working Paper Series No 8/2017

  • Knut Are Aastveit and André K. Anundsen

    Asymmetric effects of monetary policy in regional housing markets

    CAMP Working Paper Series No 7/2017

  • Hilde C. Bjørnland, Vegard H. Larsen, Junior Maih

    Oil and macroeconomic (in)stability

    CAMP Working Paper Series No 6/2017

  • Vegard Høghaug Larsen and Leif Anders Thorsrud

    Asset returns, news topics, and media effects

    CAMP Working Paper Series No 5/2017

  • Vegard Høghaug Larsen

    Components of Uncertainty

    CAMP Working Paper Series No 4/2017

  • Ragnar Torvik

    Should Developing Countries Establish Petroleum Funds?

    CAMP Working Paper Series No 3/2017

  • Hilde C. Bjørnland, Frode Martin Nordvik, Maximilian Rohrer

    Supply Flexibility in the Shale Patch: Evidence from North Dakota

    CAMP Working Paper Series No 2/2017

  • Jørgen Juel Andersen, Frode Martin Nordvik, Andrea Tesei

    Oil and Civil conflict: On and off (shore)

    CAMP Working Paper Series No 1/2017

  • Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo and Roberto Rigobon

    Measuring sovereign contagion in Europe

    Published in: Journal of Financial Stability, 2017, vol 34, 150-181

  • James A. Robinson, Ragnar Torvik and Thierry Verdier

    The political economy of public income volatility: with an application to the resource curse

    Published in: Journal of Public Economics, 2017, vol. 145(C), 243-252

  • Jørgen Juel Andersen and Mads Greaker

    Emission Trading with Fiscal Externalities: The Case for a Common Carbon Tax for the Non-ETS Emissions in the EU

    Published in: Environmental and Resource Economics, 2017, 1–21

  • Jørgen Juel Andersen, Niels Johannesen, David Dreyer Lassen and Elena Paltseva

    Petro Rents, Political Institutions, and Hidden Wealth: Evidence from Offshore Bank Accounts

    Published in: Journal of the European Economic Association, 2017, vol 15(4), 818–860

  • Knut Are Aastveit, Claudia Foroni and Francesco Ravazzolo

    Density Forecasts with MIDAS Models

    Published in: Journal of Applied Econometrics, 2017, vol 32(4), 783–801

  • Hilde C. Bjørnland, Francesco Ravazzolo and Leif Anders Thorsrud

    Forecasting GDP with global components. This time is different

    Published in: International Journal of Forecasting, 2017, vol. 33(1), 153-173

  • Fabian Kruger, Todd E. Clark and Francesco Ravazzolo

    Using Entropic Tilting to Combine BVAR Forecasts with External Nowcasts

    Published in: Journal of Business & Economic Statistics, 2017, vol. 35 (3), 470-485

  • Monica Billio, Roberto Casarin, Francesco Ravazzolo and Herman K. Van Dijk

    Interconnections Between Eurozone and US Booms and Busts Using a Bayesian Panel Markov-Switching VAR Model

    Published in: Journal og Applied Econometrics, 2016, Vol 31(7), 1352–1370

  • Davide Pettenuzzu and Francesco Ravazzolo

    OPTIMAL PORTFOLIO CHOICE UNDER DECISION-BASED MODEL COMBINATIONS

    Published in: Journal of Applied Econometrics, 2016, Vol 31(7)

     

  • Marco J. Lombardi and Francesco Ravazzolo

    On the correlation between commodity and equity returns: Implications for portfolio allocation

    Published in: Journal of Commodity Markets, 2016, Vol 2(1), 45-57

  • Francesco Ravazzolo and Philip Rothman

    Oil-Price Density Forecasts of U.S. GDP

    Published in: Studies of Nonlinear Dynamics and Econometrics2016, vol. 20(4), 441-453

  • Hilde C. Bjørnland and Leif Anders Thorsrud

    Boom or Gloom? Examining the Dutch disease in two-speed economies

    Published in: Economic Journal, 2016, vol 126(598), 2219–2256

  • Knut Are Aastveit, Hilde C. Bjørnland and Leif Anders Thorsrud

    The world is not enough! Small open economies and regional dependence

    Published in: Scandinavian Journal of Economics, 2016 vol. 118(1), 168-195

  • Halvor Mehlum, Ragnar Torvik and Simone Valente

    The Savings Multiplier

    Published in: Journal of Monetary Economics, 2016, vol. 83(C), 90-105

  • Egil Matsen, Gisle J. Natvik and Ragnar Torvik

    Petro populism

    Published in: Journal of Development Economics, 2016, vol. 118, 1-12

  • Carlo Altavilla, Fabio Canova, Matteo Ciccarelli

    Mending the broken link: heterogeneous bank lending and monetary policy pass-through

    CAMP Working Paper Series No 9/2016 (.pdf)

  • Hilde C. Bjørnland, Leif Anders Thorsrud, Sepideh Khayati Zahiri

    Do central banks respond timely to developments in the global economy?

    CAMP Working Paper Series No 8/2016 (.pdf)

  • Francesco Ravazzolo, Tommy Sveen, Sepideh K. Zahiri

    Commodity Futures and Forecasting Commodity Currencies

    CAMP Working Paper Series No 7/2016 (.pdf)

  • Leif Anders Thorsrud

    Nowcasting using news topics Big Data versus big bank

    CAMP Working Paper Series No 6/2016 (.pdf)

  • Farooq Akram, Andrew Binning, Junior Maih

    Joint Prediction Bands for Macroeconomic Risk Management

    CAMP Working Paper Series No 5/2016 (.pdf)

  • Leif Anders Thorsrud

    Words are the new numbers: A newsy coincident index of business cycles

    CAMP Working Paper Series No 4/2016 (.pdf)

  • Andrew Binning, Junior Maih

    Implementing the Zero Lower Bound in an Estimated Regime-Switching DSGE Model

    CAMP Working Paper Series No 3/2016 (.pdf)

  • Fabio Canova, Mehdi Hamidi Sahneh

    Are Small-Scale SVARs Useful for Business Cycle Analysis? Revisiting Non-Fundamentalness

    CAMP Working Paper Series No 2/2016 (.pdf)

  • Fabio Canova, Filippo Ferroni, Christian Matthes

    Approximating time-varying structural models with time-invariant structures

    CAMP Working Paper Series No 1/2016 (.pdf)

  • Knut Are Aastveit, Hilde C. Bjørnland and Leif Anders Thorsrud

    What drives oil prices? Emerging versus Developed Economies

    Published in: Journal of Applied Econometrics, 2015 vol. 30(7), 1013-1028.

  • Lars-Erik Borge, Pernille Parmer and Ragnar Torvik

    Local Natural Resource Curse?

    Published in: Journal of Public Economics, 2015, vol. 131, 101-114

  • Andrew Binning, Junior Maih

    Applying Flexible Parameter Restrictions in Markov-Switching Vector Autoregression Models

    CAMP Working Paper Series No 12/2015 (.pdf)

  • Drago Bergholt

    Foreign shocks

    CAMP Working Paper Series No 11/2015 (.pdf)

  • Francesco Ravazzolo, Philip Rothman

    Oil-Price Density Forecasts of U.S. GDP

    CAMP Working Paper Series No 10/2015 (.pdf)

  • Davide Pettenuzzo, Francesco Ravazzolo

    Optimal Portfolio Choice under Decision-Based Model Combinations

    CAMP Working Paper Series No 9/2015 (.pdf)

  • Fabian Krüger, Todd E. Clark, Francesco Ravazzolo

    Using Entropic Tilting to Combine BVAR Forecasts with External Nowcasts

    CAMP Working Paper Series No 8/2015 (.pdf)

  • Hilde C. Bjørnland, Vegard H. Larsen

    Oil and macroeconomic (in)stability

    CAMP Working Paper Series No 7/2015 (.pdf)

  • Vegard H. Larsen, Leif Anders Thorsrud

    The Value of News

    CAMP Working Paper Series No 6/2015 (.pdf)

  • Hilde C. Bjørnland, Leif Anders Thorsrud

    Commodity prices and fiscal policy design: Procyclical despite a rule

    CAMP Working Paper Series No 5/2015 (.pdf)

  • Andrew Binning, Junior Maih

    Sigma Point Filters For Dynamic Nonlinear Regime Switching Models

    CAMP Working Paper Series No 4/2015 (.pdf)

  • James A. Robinson, Ragnar Torvik, Thierry Verdier

    The Political Economy of Public Income Volatility: With an Application to the Resource Curse

    CAMP Working Paper Series No 3/2015 (.pdf)

  • Francesco Ravazzolo, Joaquin L. Vespignani

    A new Monthly Indicator of Global Real Economic Activity

    CAMP Working Paper Series No 2/2015 (.pdf)

  • Hilde C. Bjørnland, Francesco Ravazzolo, Leif Anders Thorsrud

    Forecasting GDP with global components. This time is different.

    CAMP Working Paper Series No 1/2015 (.pdf)

  • Knut Are Aastveit, Karsten R. Gerdrup, Anne Sofie Jore, and Leif Anders Thorsrud

    Nowcasting GDP in Real Time: A Density Combination Approach

    Published in: Journal of Business and Economic Statistics, Taylor & Francis Journals, 2014, vol. 32(1), 48-68

  • Hilde C. Bjørnland and Jørn Inge Halvorsen

    How does monetary policy respond to exchange rate movements? New international evidence

    Published in: Oxford Bulletin of Economics and Statistics, 2014, vol. 76(2),  208-232

  • Junior Maih

    Efficient Perturbation Methods for Solving Regime-Switching DSGE Models

    CAMP Working Paper Series No 10/2014 (.pdf)

  • Jørgen Juel Andersen, Mads Greaker

    The Fiscal Incentive of GHG Cap and Trade: Permits May Be Too Cheap and Developed Countries May Abate Too Little

    CAMP Working Paper Series No 9/2014 (.pdf)

  • Monica Billio, Roberto Casarin, Francesco Ravazzolo, Herman K. van Dijk

    Interactions between eurozone and US booms and busts: A Bayesian panel Markov-switching VAR model

    CAMP Working Paper Series No 8/2014 (.pdf)

  • Frode Martin Nordvik

    Does Oil Promote or Prevent Coups?

    CAMP Working Paper Series No 7/2014 (.pdf)

  • Hilde C. Bjørnland, Leif Anders Thorsrud

    Boom or Gloom? Examining the Dutch Disease in Two-Speed Economies

    CAMP Working Paper Series No 6/2014 (.pdf)

  • Drago Bergholt

    Monetary Policy in Oil Exporting Economies

    CAMP Working Paper Series No 5/2014 (.pdf)

  • Drago Bergholt

    Foreign Shocks in an Estimated Multi-Sector Model

    CAMP Working Paper Series No 4/2014 (.pdf)

  • Knut Are Aastveit, Claudia Foroni, Francesco Ravazzolo

    Density Forecasts with MIDAS Models

    CAMP Working Paper Series No 3/2014 (.pdf)

  • Drago Bergholt,Tommy Sveen

    Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies

    CAMP Working Paper Series No 2/2014 (.pdf)

  • Egil Matsen, Gisle J. Natvik, Ragnar Torvik

    Petro Populism

    CAMP Working Paper Series No 1/2014 (.pdf)

  • Francesco Ravazzolo and Philip Rothman

    Oil and U.S. GDP: A Real-Time Out-of-Sample Examination

    Published in: Journal of Money, Credit and Banking, 2013, Vol 45(22-3), 449-463

  • Jørgen Juel Andersen and Silje Asalksen

    Oil and political survival

    Published in: Journal of Development Economics, Elsevier, 2013, vol. 100(1), 89-106

  • Daron Acemoglu, James A. Robinson and Ragnar Torvik

    Why do voters dismantle checks and balances?

    Published in: Review of Economic Studies, 2013, 845-875

  • Ida Wolden Bache, Tommy Sveen and Kjersti Næss Torstensen

    Revisiting the importance of non-tradable goods' prices in cyclical real exchange rate fluctuations

    Published in: European Economic Review, Elsevier, 2013, vol. 57(C), 98-107

  • Monica Billio, Roberto Casarin, Francesco Ravazzolo and Herman van Dijk

    Time-varying Combinations of Predictive Densities using Nonlinear Filtering

    Published in: Journal of Econometrics, 177(2), 2013, 213–232

  • Hilde C. Bjørnland and Dag H. Jacobsen

    House prices and stock prices: Different roles in the U.S. monetary transmission mechanism

    Published in: Scandinavian Journal of Economics, 2013, vol. 115(4), 1084-1106.

  • James A. Robinson and Ragnar Torvik

    Institutional comparative statics

    Published in: Daron Acemoglu, Manuel Arellano and Eddie Dekel (eds.), Advances in Economics and Econometrics, 2013, Cambridge University Press: New York, 97-134

  • Ragna Alstadheim, Hilde C. Bjørnland, Junior Maih

    Do Central Banks Respond to Exchange Rate Movements? A Markov-Switching Structural Investigation

    CAMP Working Paper Series No 9/2013 (.pdf)

  • Jørgen Juel Andersen, Jon H. Fiva, Gisle James Natvik

    Voting when the Stakes are High

    CAMP Working Paper Series No 8/2013 (.pdf)

  • Jørgen Juel Andersen, Niels Johannesen, David Dreyer Lassen, Elena Paltseva

    Petro Rents, Political Institutions, and Hidden Wealth: Evidence from Bank Deposits in Tax Havens

    CAMP Working Paper Series No 7/2013 (.pdf)

  • Hilde C. Bjørnland, Leif Anders Thorsrud

    Bloom or gloom? Examining the Dutch disease in a two-speed economy

    CAMP Working Paper Series No 6/2013 (.pdf)

  • Lars-Erik Borge, Pernille Parmer, Ragnar Torvik

    Local Natural Resource Curse?

    CAMP Working Paper Series No 5/2013 (.pdf)

  • Halvor Mehlum, Ragnar Torvik and Simone Valente

    China's Savings Multiplier

    CAMP Working Paper Series No 4/2013 (.pdf)

  • Leif Anders Thorsrud

    Global and regional business cycles: Shocks and propagations

    CAMP Working Paper Series No 3/2013 (.pdf)

  • Daron Acemoglu, James A. Robinsen, Ragnar Torvik

    Online appendix: Why do voters dismantle checks and balances? Extensions and robustness

    CAMP Working Paper Series No 2/2013 (.pdf)

  • Daron Acemoglu, James A. Robinson, Ragnar Torvik

    Why do voters dismantle checks and balances?

    CAMP Working Paper Series No 1/2013 (.pdf)

  • Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo, Roberto Rigobon

    Measuring sovereign contagion in Europe

    CAMP Working Paper Series No 4/2012 (.pdf)

  • Marco J. Lombardi, Francesco Ravazzolo

    Oil price density forecasts: Exploring the linkages with stock markets

    CAMP Working Paper Series No 3/2012 (.pdf)

  • Knut Are Aastveit, Hilde C. Bjørnland, Leif Anders Thorsrud

    What drives oil prices? Emerging versus developed economies

    CAMP Working Paper Series No 2/2012 (.pdf)

  • Hilde C Bjørnland, Dag Henning Jacobsen

    House prices and stock prices: Different roles in the U.S. monetary transmission mechanism

    CAMP Working Paper Series No 1/2012 (.pdf)

  • Knut Are Aastveit, Hilde C Bjørnland, Leif Anders Thorsrud

    The world is not enough! Small open economies and regional dependence

    CAMP Working Paper Series No 3/2011 (.pdf)

  • Francesco Ravazzolo, Philip Rothman

    Oil and US GDP: A Real-Time out-of Sample Examination

    CAMP Working Paper Series No 2/2011 (.pdf)

  • Knut Are Aastveit, Karsten R. Gerdrup, Anne Sofie Jore, Leif Anders Thorsrud

    Nowcasting GDP in Real-Time. A Density Comintaion Approach

    CAMP Working Paper Series No 1/2011 (.pdf)

  • Hilde C. Bjørnland, Karsten Gerdrup, Anne Sofie Jore, Christie Smith, Leif Anders Thorsrud

    Does forecast comination improve Norges Bank inflation forecasts?

    CAMP Working Paper Series No 2/2010 (.pdf)

  • Hilde C. Bjørnland and Jørn I. Halvorsen

    How does monetary policy respond to exchange rate movements? New international evidence.

    CAMP Working Paper Series No 1/2010 (.pdf)