Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/210223 
Year of Publication: 
2011
Series/Report no.: 
Staff Memo No. 07/2011
Publisher: 
Norges Bank, Oslo
Abstract: 
Financial conditions indexes (FCIs) may be useful tools for policymakers because they may have the ability to summarize overall financial conditions for households and companies and at the same time provide timely information on real economic activity. A monthly FCI for Norway is constructed by using principal components based on 13 financial variables. Real-financial linkages are examined by correlation analyses and by analyzing in- and out-of-sample fit of a regression model. Through this exercise the FCI is found to be a useful leading indicator of Norwegian GDP growth. Alternative FCIs are also considered, in particular an FCI based on variables purged of business cycle effects.
Persistent Identifier of the first edition: 
ISBN: 
978-82-7553-613-4
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Research Report
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