Bericht

Norges Bank's New Monetary Policy Loss Function - Further Discussion

Norges Bank's Monetary Policy Report (MPR) 1/12 introduced amendments to the criteria for an appropriate interest rate path in order to explicitly take into account the risk of a buildup of financial imbalances. The monetary policy "loss function" used in model-based analyses was accordingly adjusted mainly in two ways: The weight on the output gap was increased and a weight on the deviation between the actual and the normal interest rates was added. We present both theoretical and empirical studies underpinning these changes.

ISBN
978-82-7553-666-0
Language
Englisch

Bibliographic citation
Series: Staff Memo ; No. 11/2012

Classification
Wirtschaft

Event
Geistige Schöpfung
(who)
Evjen, Snorre
Kloster, Thea Birkeland
Event
Veröffentlichung
(who)
Norges Bank
(where)
Oslo
(when)
2012

Handle
Last update
10.03.2025, 11:44 AM CET

Data provider

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Object type

  • Bericht

Associated

  • Evjen, Snorre
  • Kloster, Thea Birkeland
  • Norges Bank

Time of origin

  • 2012

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