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Norway: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway

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  • International Monetary Fund

Abstract

Norway’s near-term macroeconomic priority is to reduce risks arising from high-household debt by tightening macroprudential standards for mortgage lending while undertaking tax reforms to gradually reduce incentives for excessive leverage. Creating a stronger institutional framework for acroprudential policy would also assist risk mitigation in the future. With the output gap closing, fiscal tightening is needed over the medium term in the central scenario to rebuild precautionary buffers and ensure that fiscal guidelines are met on average over the cycle.

Suggested Citation

  • International Monetary Fund, 2012. "Norway: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway," IMF Staff Country Reports 2012/025, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/025
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    References listed on IDEAS

    as
    1. International Monetary Fund, 2010. "Estimating Potential Output with a Multivariate Filter," IMF Working Papers 2010/285, International Monetary Fund.
    2. Moosa, Imad A., 1997. "A Cross-Country Comparison of Okun's Coefficient," Journal of Comparative Economics, Elsevier, vol. 24(3), pages 335-356, June.
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