![](/contentassets/735dad87aa5148be9c7a554358fcf07f/qvigstad.jpg?v=09032017123406&mode=crop&width=800&height=600)
Jan Fredrik Qvigstad
Economist emeritus
Contact:
Norges Bank
P.O. Box 1179 Sentrum
0107 Oslo
Norway
Research interests
Monetary economics and applied macroeconomics
Born: 1949
Education:
1975: Graduate Degree in economics (Cand. oecon) from the University of Oslo
Work experience:
1 September 2019: Economist emeritus, Norges Bank
2014: Executive Director, Norges Bank
2008-2014: Appointed Deputy Governor, Norges Bank
1997–2008: Director and member of the management team (corporate management) at Norges Bank. Executive Director of Norges Bank Monetary Policy, with responsibility for Economics Department, Monetary Policy Department, Department for Market operations and Analysis, Research Department and Statistics Department
2000–2008: Temporary position as Professor II (shared professorship) in economics, Norwegian School of Management (BI)
1998–1999: Temporary position as Director of Studies II in economics, Norwegian School of Management (BI)
1992–1996: Director, Economics Department, Norges Bank
1990–1992: Senior Officer, EFTA, with responsibility for coordination of financial services and capital movements in relation to the EEA negotiations
1984–1990: Assistant Director, Economics Department, Norges Bank
1982: Visiting Scholar, University of Cambridge, UK
1978–1984: Principal Officer, later Assistant Director, Economics Department at the Ministry of Finance
1974–1978: Assistant lecturer, Department of Economics, University of Oslo
Miscellaneous:
2016: Member of The Petroleum Price Board
2014: Deputy chair of the Board at Statistics Norway
Member of Steigum Committee "Norsk økonomi i forandring" ("Changing Norwegian economy"). NOU 1988:21
Editor of Sosialøkonomen 1974–1976
Member of the Working Committee of CME (Centre for Monetary Economics) at the Norwegian School of Management 1999–2003
Articles in academic journals, books and papers:
- "Norway’s Road to Inflation Targeting: Overcoming the Fear of Floating". Speech at the conference ”50 years after Bretton Woods: The experience of small open economies”, ETH Zurich. Article published in Comparative Economic Studies, June 2024.
- Offentlige utgifter bør vokse mindre enn veksten i norsk økonomi, Samfunnsøkonomen, utgave 4, 2023 (samfunnsokonomen.no)
- Historical Monetary and Financial Statistics for Norway, Norges Bank Occasional Papers No. 57, 2022
- Historical monetary and financial statistics for policymakers: towards a unified framework (pdf), 2022 (bis.org)
- Norway's road to inflation targeting. Overcoming the fear of floating – counterfactual analyses of four episodes, Norges Bank Occasional Papers No. 56, 2020
- «Kriterier for en godt begrunnet høyesterettsdom», (co-author Tore Schei), Lov og rett vol. 58. 8. 2019.
- "How to draft 'good' minutes of monetary policy decisions". Economic Affairs, Vol. 39, No. 1, 2019
- "Optimal minutes", (co-author Tore Schei), VOX CEPR Policy Portal, 2018
- "Criteria for "good" justifications", (co-author Tore Schei), Working Paper 6/2018, Norges Bank
- "The Evolution of Central Banks: A Practitioner's Perspective", (with Andrew G. Haldane), in Central Banks at a Crossroads, Cambridge University Press, 2016
- "On institutions – Fundamentals of confidence and trust", Norges Bank Occasional Paper No. 47, 2014
- "On learning from history – Truths and eternal truths", Norges Bank Occasional Paper No. 46, 2013
- Monetary policy committees and communication, (with Ingimundur Fridriksson and Nina Langbraaten), Staff Memo 2/2013, Norges Bank
- Pengepolitiske komiteer og kommunikasjon,(med Ingimundur Fridriksson og Nina Langbraaten), Staff Memo 1/2013, Norges Bank
- The "Rule of Four", (co-author John Llewellyn with Nikka Husom Vonen and Bimal Dharmasena), The Business Economist, Vol 43, No. 1, 2012
- "On managing wealth", Norges Bank Occasional Paper No. 45, 2012
- "Om å forvalte rikdom", Nytt Norsk Tidsskrift nr. 1/2012
- "Om å fatte gode beslutninger", Nytt Norsk Tidsskrift nr. 2/2011
- "On making good decisions", Norges Bank Occasional Paper No. 43, 2011
- "Two essays on the magic number 4" ("Would the simple 4 per cent rule have uncovered that there was a crisis in the offing?" and "When is the banking industry too large?" (co-authors Sigbjørn Atle Berg and Nikka Husom Vonen), Staff Memo 2/2011, Norges Bank
- “On transparency”, Norges Bank Occasional Papers No. 41, 2010
- "Om åpenhet", Nytt Norsk Tidsskrift nr. 1-2/2010
- ”On keeping promises”, Norges Bank Occasional Papers No. 39, 2009
- "European Promises", (co-author Vitor Gaspar). BEPA Monthly Brief, Issue 25/2009
- "Om å holde ord", Nytt Norsk Tidsskrift nr. 1/2009
- "Designing research in central banks", (co-author Øyvind Eitrheim), in Designing central banks, Routledge, 2009
- "Historical Monetary Statistics for Norway – Part II", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 38, 2007
- "Introduction to Ragnar Frisch's 1933 pamphlet - Saving and circulation regulation", (co-author Olav Bjerkholt), Rivista di storia economica No. 2, 2007
- "Review of the ECB's strategy and alternative approaches", Economic Bulletin 2/06
- "When does an interest rate path "look good"? Criteria for an appropriate future interest rate path", Norges Bank Working Paper 2006/05
- "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård", (co-editor Øyvind Eitrheim), Norges Bank Occasional Papers No. 37, 2005
- "500 years of price history: Price stability is the norm. What distinguishes the abnormal?", Talk at the conference entitled "Historical Monetary Statistics for Norway", Bogstad 7 June 2005, Staff Memo 7/2005, Norges Bank,
- "When does an interest path look good? Criteria for an appropriate future interest rate path - A practitioners approach", Staff Memo 6/2005, Norges Bank,
- "Policy-making and models at Norges Bank", Summary of talk held at Norges Bank's conference entitled "Economic models at central banks", in Oslo 7 April 2005. Staff Memo 5/2005, Norges Bank,
- "How to treat the exchange rate assumption for an inflation targeting regime", Staff Memo 4/2005, Norges Bank
- "Historical Monetary Statistics for Norway 1819–2003", (co-editors Øyvind Eitrheim and Jan T. Klovland), Norges Bank Occasional Papers No. 35, 2004
- "Monetary policy in real time: The role of simple rules" (co-authors Kjetil Olsen and Øystein Røisland), BIS policy Paper No. 19, 2003
- "Some comments to Orphanides and Svensson", "The role of monetary policy rules in inflation targeting regimes - Theory meets practice", Workshop, Norges Bank 5-6 May 2003
- "Pengepolitikk i realtid", festskrift til Erling S. Andersens sekstiårsdag, NKI Forlaget, 2001
- "Monetary policy in real time, Norges Bank Working Paper 2001/1, Norges Bank
- "Hva er så spesielt med pengepolitikken?" ("What is so special about monetary policy?"), (co-author Øistein Røisland), in Perspektiver på pengepolitikken, Gyldendal Akademisk, 2000
- "Monetary policy rules in Norway - a counterfactual experiment using the Norges Bank macroeconomic model RIMINI", (co-author Øyvind Eitrheim), manuscript
- "Inflasjonsrapporten som instrument" ("The Inflation Report as an instrument"), (co-author Amund Holmsen), Norges Banks Skriftserie, 28, 20-26, 1999
- "Norge og felles mynt i Europa - en kommentar" ("Norway and the common European currency - a commentary"), in ØMU og pengepolitikken i Norden, Norges Banks Skriftserie, 26, 124-128, 1998
- "Norwegian traditions and international trends", in Choosing a Monetary Policy Target, Scandinavian University Press, 1997
- "Monetary policy in Norway - experience since 1992" (co-author Jon Nicolaisen), BIS Policy Papers, 2, 101-132, 1997
- "Valutakursregimer - historiske erfaringer og fremtidige utfordringer" ("Exchange rate regimes - historical experiences and future challenges") (co-author Arent Skjæveland), in Stabilitet og langsiktighet - Festskrift til Hermod Skånland, Aschehoug, 1994
- "Economic and Monetary Union (EMU). A Survey of the EMU and empirical evidence on convergence for the EC and the EFTA countries", EFTA Occasional Papers No. 36, 1992
- "Finansielle tjenester, kapitalbevegelser og økonomisk-politisk samarbeid innenfor EØS-avtalen" ("Financial services, capital movements and cooperation on economic policy within the EEA agreement"), Penger og Kreditt, 1991
- "EF's pengeunion" (The EU monetary union"), Sosialøkonomen, 1991
- "Er det så opplagt at...? ("Is it so obvious that...?")" An interview with Professor Haavelmo on the occasion of him being awarded the Nobel Price, Sosialøkonomen, 1989
- "Tilbud og etterspørsel i de makroøkonomiske modellene ("Supply and demand in macroeconomic models"), (co-author Tore Eriksen and Sigurd Tveitereid), in Vekst og sysselsetting - Festskrift til Eivind Erichsen, Cappelen, 1987
- "Utviklingen i pengemengden gjennom 1984 og 1985 ", (co-author Harald Bøhn), in Penger, kreditt og valuta : en artikkelsamling, Universitetsforlaget, 1987
- "Er realrentenivået høyt?" ("Is the real interest rate level high?"), Bergen Bank kvartalsskrift, 1986
- "Statsgjelden - et problem når veksten er lav og renten er høy" ("Government debt - a problem when growth is low and the interest rate high") (co-author Michael Hoel), Sosialøkonomen, 1986
- "Sesongjustering i arbeidet med konjunkturanalyse" ("Seasonal adjustment in work on cyclical analysis"), (co-author Kjell G. Bleivik), Penger og Kreditt, 1986
- "Utviklingen i pengemengden gjennom 1984 og 1985" ("Developments in the money supply thorough 1984 and 1985"), (co-author Harald Bøhn), Sosialøkonomen, 1985
- "The use of macroeconomic models in economic policy making: the Norwegian experience", (co-author Tore Eriksen), Arbeidsnotater no. 12 (Ministry of Finance), 1985
- "The use of macroeconomic models in economic policy making", (co-author Tore Eriksen), Economic Modelling, 1985
- "Finmod - en finanspolitisk modell" ("Finmod - a fiscal policy model"), (co-author Tore Eriksen), Sosialøkonomen, 1983
- "Bruk av modeller i den økonomisk-politiske debatt" ("The use of models in the economic policy debate"), Sosialøkonomen, 1982
- "Portrett: Professor Frank Hahn - monetarismen har vært en ulykke" ("Portrait: Professor Frank Hahn - monetarism has been a calamity"), Sosialøkonomen, 1982
- "The use of macroeconomic models in economic policy making, the Norwegian experience", GPP519, Department of Applied Economics, University of Cambridge, 1982
- "A fiscal policy model for Norway", GPP521, Department of Applied Economics, University of Cambridge, 1982
- "Finanspolitiske indikatorer og en finanspolitisk modell" med Tekniske vedlegg (co-authors Tore Eriksen and Asbjørn Rødseth), Arbeidsnotater no. 2 (Ministry of Finance), 1981
- "Arbeidsmiljø - en økonomisk analyse. Del 1: Arbeidsmiljø og næringsstruktur" ("Working environment - an economic analysis. Part 1: Working environment and industrial structure") (co-author Tore Eriksen), Sosialøkonomen,1979
- "Arbeidsmiljø - en økonomisk analyse. Del 2: Teoretiske refleksjoner om arbeidsmiljø" ("Working environment - an economic analysis. Part 2: Theoretical reflections on working environment") (co-author Tore Eriksen), Sosialøkonomen,1979
- "Arbeidsmiljø og næringsstruktur" ("Working environment and industrial structure") (co-author Tore Eriksen), Memorandum from Sosialøkonomisk Institutt, 1978
- "A Study of Consumption Costs" (co-author Tore Thonstad), Memorandum from Sosialøkonomisk Institutt, 1977
- "Noen emner fra inflasjonsteorien" ("Some topics from inflation theory") prepared on the basis of Professor Haavelmo's lectures, Memorandum from Sosialøkonomisk Institutt, 1977
Books (editor and co-editor):
- "On Central Banking", Cambridge University Press, 2016
- "Central Banks at a Crossroads", (with Michael D. Bordo, Øyvind Eitrheim and Marc Flandreau), Cambridge University Press, 2016
- "Norges Bank 1816-2016. En historie i bilder", (with Harald Bøhn and Øyvind Eitrheim), Fagbokforlaget, 2016
- "What is a useful central bank? Proceedings from Norges Bank's symposium 17-18 November 2010", (co-editors Sigbjørn Atle berg, Øyvind Eitrheim and Marius Ryel), Norges Bank Occasional Papers no 42, 2011
- "Twenty Years of Inflation Targeting" (co-editors: David Cobham, Øyvind Eitrheim and Stefan Gerlach), Cambridge University Press, 2010
- "Historical Monetary Statistics for Norway - Part II" (co-editors: Øyvind Eitrheim and Jan Tore Klovland) Norges Bank Occasional Paper, 38, 2007
- "Tilbakeblikk på norsk pengehistorie. Konferanse 7. juni 2005 på Bogstad gård" (co-editor: Øyvind Eitrheim), Norges Banks Skriftserie, 37, 2005
- "Historical Monetary Statistics for Norway 1819 - 2003" (co-editors: Øyvind Eitrheim and Jan Tore Klovland), Norges Bank Occasional Paper, 35, 2004
- "Perspektiver på pengepolitikken" ("Perspectives on monetary policy") (co-editor Øistein Røisland), Gyldendal Akademisk 2000
- "ØMU og pengepolitikken i Norden" ("EMU and monetary policy in the Nordic countries"), Norges Banks Skriftserie, 26, 1998
- "Choosing a Monetary Policy Target" (co-editor Ms. Anne Berit Christiansen), Scandinavian University Press, 1997)
- "Stabilitet og langsiktighet - Festskrift til Hermod Skånland" ("Stability and longtermism - Collection of articles dedicated to Hermod Skånland") (co-editors Sigbjørn Atle Berg and Kjell Storvik), Aschehoug, 1994
Articles in newspapers
- "Pengenes aktsomme vokter", Aftenposten 15. juni 2005
- "Lav prisstigning gjennom 500 år" ( "500 years of low inflation"), Aftenposten 25. oktober 2004
Speeches
- Introductory remarks at the Workshop on Understanding Macroprudential Regulation Norges Bank, 2012
- "On learning from history - Truths and eternal truths" / "Om å lære av historien - Sannheter og evige sannheter", speech at the Norwegian Academy of Science and Letters (Det Norske Videnskaps-Akademi), 2012
- "On managing wealth" / "Om å forvalte rikdom", speech at the Norwegian Academy of Science and Letters (Det Norske Videnskaps-Akademi), 2011
- "Managing wealth – the Norwegian experience", speech at a seminar hosted by FEDEA in Madrid with the assistance of Norway’s ambassador to Spain, Torgeir Larsen, 23.03.2011
- "Lessons from the crisis for monetary policy and financial stability", speech at the Annual Money, Macro and Finance Conference, Limassol, 03.09.2010
- "Could the financial crisis have been avoided? Challenges to international cooperation and conflict", speech at a seminar on the financial crisis arranged by Prio in Oslo, 08.12.2009
- Comments on Lars E. O. Svensson's lecture "Policy expectations and policy evaluations: the role of transparency and communication" (Kommentarer til Lars E. O. Svenssons foredrag "Förväntningar om och utvärderingar av penningpolitiken: Vilken roll har öppenhet och kommunikation?",) at the Conference "Ten Years of Riksbank Independence" in Stockholm, 11.09.2009
- "The global economic crisis and its impact on Sovereign Wealth Funds: The example of Norway", speech at a meeting for financial sector representatives in Geneva hosted by the Royal Norwegian Embassy, 11.05.2009
- "The Nordics in the EU - Fiscal similarities and monetary differences", speech at a seminar hosted by the European Commission, Brussels, 13.02.2009
- "Transparency and central bank communication", speech at a seminar in Banca d’Italia, Rome, 04.11.2008
- "Writing central bank and monetary history – what are the issues?", welcome remarks at a workshop co-organised by The Graduate Institute, Geneva and Norges Bank in Oslo, 30.10.2008
- "Trends in monetary policy transparency - Comments to Petra M. Geraats' paper", speech at the conference "International Experience with the Conduct of Monetary Policy under Inflation Targeting" in Ottawa, 23.07.2008
- "Review of the ECB's strategy and alternative approaches", speech at the conference "The ECB and Its Watchers VIII" in Frankfurt, 05.05.2006
All photos: Sturlason