Hilde Christiane Bjørnland

Hilde C. Bjørnland is a Professor of Economics at the BI Norwegian Business School. She holds a Master of Science in Econometrics and Mathematical Economics from London School of Economics, and a PhD (Dr.Polit) in Economics from the University of Oslo. She was awarded His Majesty, The King of Norway’s Gold medal for the Ph.D. thesis in social Sciences.

Her main area of research is within applied macroeconomics and time series. Special interests include the study of natural resources and business cycles. She has published in leading journals such as the Economic Journal, Journal of Monetary Economics, Journal of International Economics, and Journal of Applied Econometrics.

Bjørnland is the Director of the research centre CAMP (Centre for Applied Macro- and Petroleum economics) at the BI Norwegian Business School. She holds a position as a scientific advisor to the Research Department in Norges Bank and she is a member of the Swedish Fiscal Policy Council. She is a member of a committee recently appointed by the Norwegian government to assess the equity portion of the Norwegian Government Pension Fund Global, she is the President of the Society for Nonlinear and Dynamics Econometrics (SNDE) and she is research associate of the Centre for Applied Macroeconomic Analysis (CAMA) at the Australia National University.

Bjørnland has previously held positions as staff economist at the International Monetary Fund and Associate Professor at the University of Oslo. She has been a Visiting Scholar at UC Berkeley and UC Riverside, and has been a board member of the Financial Supervisory Authority of Norway and the Petroleum Price Board. She was a member of a Norwegian government commission reevaluating the fiscal rule for the take-out from the oil fund (Thøgersen Commission).

ACADEMIC DEGREES

• 1998 University of Oslo Ph.D Dr. Oecon.
• 1992 London School of Economics Master of Science
• 1991 Heriot-Watt University B.A.

WORK EXPERIENCE

• 2008 - Present BI Norwegian Business School Professor
• 2004 - Present Norges Bank Scientific advisor to the Research Department (part time)
• 2006 - 2008 BI Norwegian Business School Associate Professor
• 2000 - 2006 University of Oslo Post Doctorate
• 1998 - 2000 International Monetary Fund Economist
• 1993 - 1998 Statistics Norway Researcher

RESEARCH REPORTS

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

Do central banks respond timely to developments in the global economy?. Oslo: BI Norwegian Business School 2016 ;Volume 2016.CAMP Working paper series(8) BI

Bjørnland, Hilde C; Alstadheim, Ragna; Maih, Junior. 

Do central banks respond to exchange rate movements? A Markov-switching structural investigation. : CAMP Working Paper 2013 23 p. BI

Bjørnland, Hilde C; Alstadheim, Ragna; Maih, Junior. 

Do central banks respond to exchange rate movements? A Markov-switching structural investigation. : Norges Bank Working Paper 2013 23 p. BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Boom or gloom? Examining the Dutch disease in a two-speed economy. : CAMP Working Paper 2013 42 p. BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Ringvirkninger - Norsk økonomi og olje. : CME Working Paper 2013 17 p. BI

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

What drives oil prices? Emerging versus developed economies. : Handelshøyskolen BI 2012 41 p. BI

Bjørnland, Hilde C; Jacobsen, Dag Henning. 

House prices and stock prices: Different roles in the U.S. monetary transmission mechanism. : Handelshøyskolen BI 2012 36 p. BI UiO

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

The world is not enough! Small open economies and regional dependence. : Handelshøyskolen BI 2011 59 p. BI

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

The World is not enough! Small open ecnomics and regional dependence. : Norges Bank 2011 BI

Bjørnland, Hilde C; Wilhelmsen, Bjørn Roger. 

Norges Bank Watch 2011 An Independent Evaluation of Monetary Policy in Norway. : Handelshøyskolen BI 2011 36 p. BI

Bjørnland, Hilde C; Clarida, Richard; Holvik, Elisabeth; Steigum, Erling. 

Norges Bank Watch 2010 An Independent Evaluation of Monetary Policy in Norway. : Handelshøyskolen BI 2010 76 p. BI

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

Does forecast combination improve Norges Bank inflation forecasts?. : Handelshøyskolen BI 2010 34 p. BI

Bjørnland, Hilde C; Halvorsen, Jørn Inge. 

How does monetary policy respondto exchange rate movements? New international evidence. : Handelshøyskolen BI 2010 49 p. Working Paper(CAMAR 1/2010) BI

Steigum, Erling; Bjørnland, Hilde C; Clarida, Richard; Holvik, Elisabeth. 

An independent evaluation of monetary policy in Norway. Norges Bank Watch Report Series No. 11. : Centre for Monetary Economics, BI Norwegian School of Management, Oslo 2010 BI

Bjørnland, Hilde C; Jacobsen, Dag Henning. 

The role of house prices in the monetary policy transmission mechanism in small open economies. : Norges Bank 2009 Working Paper, Norges Bank(06/2009) BI UiO

Bjørnland, Hilde C. 

Oil price shocks and stock market booms in an oil exporting country. : Handelshøyskolen BI 2008 Working Paper, Norges Bank(16/2008) BI

Bjørnland, Hilde C; Halvorsen, Jørn Inge. 

How does monetary policy respond to exchange rate movements? New international evidence. : Handelshøyskolen BI 2008 49 p. Working Paper, Norges Bank(15/2008) BI

Bjørnland, Hilde C; Jacobsen, Dag Henning. 

Oil price shocks and stock market booms in an oil exporting country. : Handelshøyskolen BI 2008 Working Paper, Norges Bank(24/2008) BI UiO

Bjørnland, Hilde C; Leitemo, Kai. 

Identifying the Interdependence between US Monetary Policy and the Stock Market. : Handelshøyskolen BI 2008 32 p. Working Paper, Norges Bank(4/2008) BI

Bjørnland, Hilde C. 

Monetary Policy and the Illusionary Exchange Rate Puzzle. : Department of Economics, University of Oslo 2005 27 p. Memorandum / Økonomisk institutt, UiO(26) UiO

Bjørnland, Hilde C. 

Monetaty policy and exchange rate interactions in a small open economy. : Department of Economics, University of Oslo 2005 24 p. Memorandum / Økonomisk institutt, UiO(31) UiO

Bjørnland, Hilde C; Hungnes, Håvard. 

The commodity currency puzzle. : Department of Economics, University of Oslo 2005 26 p. Memorandum / Økonomisk institutt, UiO(32) UiO

Bjørnland, Hilde C; Leitemo, Kai. 

Identifying the Interdependence between US Monetary Policy and the Stock Market. : Department of Economics, University of Oslo 2005 32 p. Memorandum / Økonomisk institutt, UiO(12) UiO

Bjørnland, Hilde C. 

A stable demand for money despite financial crisis: The case of Venezuela. : Memorandum 12, Økonomisk institutt, Universitetet i Oslo 2003 19 p. UiO

Bjørnland, Hilde C. 

Estimating the equilibrium real exchange rate in Venezuela. : Memorandum 02, Økonomisk institutt, Universitetet i Oslo 2003 16 p. UiO

Bjørnland, Hilde C; Hungnes, Håvard. 

The importance of interest rates for forecasting the exchange rate. : Discussion Papers 340, Statistics Norway 2003 19 p. UiO

Bjørnland, Hilde C; Hungnes, Håvard. 

Fundamental determinants of the long run real exchange rate: The case of Norway. : Økonomisk institutt 2002 40 p. Memorandum / Økonomisk institutt, UiO(23/2002) UiO

Bjørnland, Hilde C. 

Identifying Domestic and Imported Core Inflation. : International Monetary Fund 2000 25 p. IMF Working Paper(4) UiO

Bjørnland, Hilde C. 

Economic Fluctuations in a Small Open Economy - Real versus Nominal Shocks. : Statistics Norway 1998 44 p. Discussion Papers(215) UiO

SCIENTIFIC ARTICLES

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

Forecasting GDP with global components: This time is different. International Journal of Forecasting 2017 ;Volume 33.(1) p. 153-173 BI

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

The World Is Not Enough! Small Open Economies and Regional Dependence. The Scandinavian Journal of Economics 2016 ;Volume 118.(1) p. 168-195 BI

Bjørnland, Hilde C; Maih, Junior; Larsen, Vegard Høghaug. 

Oil and macroeconomic (in)stability. Working Paper, Norges Bank 2016 (12) BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Boom or gloom? Examining the Dutch disease in two-speed economies. Economic Journal 2016 ;Volume 126.(598) p. 2219-2256 BI

Bjørnland, Hilde C; Larsen, Vegard Høghaug. 

Oil and macroeconomic (in)stability. CAMP Working paper series 2015 (7) BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Commodity prices and fiscal policy design: Procyclical despite a rule. CAMP Working paper series 2015 (5) BI

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

What drives oil prices? Emerging versus Developed Economies. Journal of applied econometrics (Chichester, England) 2015 ;Volume 30.(7) p. 1013-1028 BI

Bjørnland, Hilde C; Halvorsen, Jørn Inge. 

How does monetary policy respond to exchange rate movements? New international evidence. Oxford Bulletin of Economics and Statistics 2014 ;Volume 76.(2) p. 208-232 BI

Bjørnland, Hilde C; Jacobsen, Dag Henning. 

House Prices and Stock Prices: Different Roles in the US Monetary Transmission Mechanism. The Scandinavian Journal of Economics 2013 ;Volume 115.(4) p. 1084-1106 BI

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

Does Forecast Combination Improve Norges Bank Inflation Forecasts?. Oxford Bulletin of Economics and Statistics 2012 ;Volume 74.(2) p. 163-179 BI

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

Weights and pools for a Norwegian density combination. The North American journal of economics and finance 2011 ;Volume 22.(1) p. 61-76 BI

Bjørnland, Hilde C; Leitemo, Kai; Maih, Junior. 

Estimating the natural rates in a simple New Keynesian framework. Empirical Economics 2011 ;Volume 40.(3) p. 755-777 BI

Bjørnland, Hilde C; Jacobsen, Dag Henning. 

The role of house prices in the monetary policy transmission mechanism in small open economies. Journal of Financial Stability 2010 ;Volume 6.(4) p. 218-229 BI

Bjørnland, Hilde C. 

Monetary policy and exchange rate overshooting: Dornbusch was right after all. Journal of International Economics 2009 ;Volume 79.(1) p. 64-77 BI

Bjørnland, Hilde C; Leitemo, Kai. 

Identifying the Interdependence between US Monetary Policy and the Stock Market. Journal of Monetary Economics 2009 ;Volume 56.(2) p. 275-282 BI

Bjørnland, Hilde C. 

Monetary Policy and Exchange Rate Interactions in a Small Open Economy. The Scandinavian Journal of Economics 2008 ;Volume 110.(1) p. 197-221 BI

Bjørnland, Hilde C; Brubakk, Leif; Jore, Anne Sofie. 

Forecasting inflation with an uncertain output gap. Empirical Economics 2008 ;Volume 35.(3) p. 413-436 BI

Bjørnland, Hilde C; Hungnes, Håvard. 

The importance of interest rates for forecasting the exchange rate. Journal of Forecasting 2006 ;Volume 25. UiO

Bjørnland, Hilde C. 

A stable demand for money despite financial crisis: the case of Venezuela. Applied Economics 2005 ;Volume 37. UiO

Bjørnland, Hilde C. 

Estimating the equilibrium real exchange rate in Venezuela. Economics Bulletin 2004 ;Volume 6. p. 1-8 UiO

Bjørnland, Hilde C. 

The role of the exchange rate as a shock absorber in a small open economy. Open Economies Review 2004 ;Volume 15. p. 23-43 UiO

Bjørnland, Hilde C. 

Konjunkturforskning i et historisk lys. Er konjunktursvingninger like reelle som før?. Økonomisk forum 2002 ;Volume 56. p. 30-40 UiO

Bjørnland, Hilde C. 

Identifying domestic and imported core inflation. Applied Economics 2001 ;Volume 33.(14) p. 1819-1831 UiO

Bjørnland, Hilde C. 

Detrending methods and stylized facts of business cycles in Norway - an international comparison. Empirical Economics 2000 ;Volume 25.(3) p. 369-392 UiO

Bjørnland, Hilde C. 

The Dynamic Effects of Aggregate Demand, Supply and Oil Price Shocks-A Comparative Study. Manchester School 2000 ;Volume 68.(5) p. 578-607 UiO

Bjørnland, Hilde C. 

Structural breaks and stochastic trends in macroeoconomic variables in Norway. Applied Economics Letters 1999 ;Volume 6.(3) p. 133-138 UiO

Bjørnland, Hilde C. 

Håpløse spådommer, bølgeteori og falske sykler. Sosialøkonomen 1998 ;Volume 52.(6) p. 18-27 UiO

Bjørnland, Hilde C. 

The Economic Effects of North Sea Oil on the Manufacturing Sector. Scottish Journal of Political Economy 1998 ;Volume 45.(5) p. 553-585 UiO

Bjørnland, Hilde C. 

Estimering av underliggende inflasjon. Sosialøkonomen 1997 (7) p. 12-18 UiO

CONFERENCE PAPERS

Bjørnland, Hilde C. 

Discussion of Vitor Gaspar and Paulo Medas: Fiscal management of non-renewable natural resources. Third IMF Statistical Forum; 2015-11-20 - 2015-11-21 BI

Bjørnland, Hilde C. 

Tracking the oil price decline and the effect on the Norwegian economy. The International Economic Forum of the Americas; 2015-06-10 - 2015-06-12 BI

Bjørnland, Hilde C. 

Boom or gloom? Examining the Dutch disease in a two-speed economy (co-author Leif Anders Thorsrud). 23rd Annual Meeting of the Midwest Econometrics Group (MEG); 2013-10-24 - 2013-10-25 BI

Bjørnland, Hilde C. 

Chair of invited session on oil prices. Allied Social Science Associations (ASSA) annual meeting in San Diego; 2013-01-04 - 2013-01-07 BI

Bjørnland, Hilde C. 

Do central banks respond to exchange rate movements? A Markov-switching structural investigation (co-authors: Ragna Alstadheim and Junior Maih). Seminar series; 2013-11-20 BI

Bjørnland, Hilde C. 

Do central banks respond to exchange rate movements? A Markov-switching structural investigation (co-authors: Ragna Alstadheim and Junior Maih). 19th International conference in Computing in Economics and Finance (CEF); 2013-07-09 - 2013-07-12 BI

Bjørnland, Hilde C. 

Mentor at the workshop for junior females at pre conference workshop. 23rd Annual Meeting of the Midwest Econometrics Group; 2013-10-23 - 2013-10-25 BI

Bjørnland, Hilde C. 

Monetary Policy and Exchange Rate Stabilization in Norway and Sweden (co-author Junior Maih). Reform Capacity and Macroeconomic Performance in the Nordic Countries; 2013-09-20 - 2013-09-21 BI

Bjørnland, Hilde C. 

Do Central Banks respond to the Exchange rate? A Markov-Switching structural investigation. European Central Bank conference on energy and the macroeconomy; 2012-10-17 - 2012-10-20 BI

Bjørnland, Hilde C. 

Monetary policy, terms of trade and exchange rate responses. A Markov-Switching structural investigation. Western Economic Association, San Francisco, July 2012; 2012-06-22 - 2012-06-28 BI

Bjørnland, Hilde C. 

Small open economies, terms of trade and monetary policy. Conference on monetary and fiscal policy in Nordic countries; 2012-11-22 - 2012-11-24 BI

Bjørnland, Hilde C. 

Does forecast combination improve Norges Bank inflation forecasts?. The 30th Annual International Symposium on Forecasting; 2010-06-20 - 2010-06-23 BI

Bjørnland, Hilde C. 

Finanspolitikken, om konjunktursvingninger og makroøkonomisk styring. Kurs for lærere i samfunnsøkonomi ved videregående skoler; 2003-10-20 - 2003-10-20 UiO

Bjørnland, Hilde C. 

Inflasjonsmål som stabiliseringspolitikk - styring under usikkerhet. Valutaseminaret; 2003-01-29 - 2003-01-31 UiO

Bjørnland, Hilde C. 

Beregning av trender, konjunkturutslag og impliserte effekter på budsjettindikatoren. Rom for forbedringer?. ; 2002 UiO

Bjørnland, Hilde C. 

Estimating the equilibrium real exchange rate: The case of Venezuela. 57th European Meeting of the Econometric Society; 2002-08-01 UiO

Bjørnland, Hilde C. 

Fundamental determinants of the long-run real exchange rate. ; 2002 UiO

Bjørnland, Hilde C. 

Hva bestemmer realvalutakursen på lang sikt?. ; 2002 UiO

Bjørnland, Hilde C. 

Moderne konjunkturforskning. Det 24. nasjonale forskermøte for økonomer; 2002-01-07 UiO

Bjørnland, Hilde C. 

Sources of real exchange rate fluctuations in Venezuela. Growth and Business cycles in Theory and Practice; 2002-06-01 UiO

Bjørnland, Hilde C. 

Detrending Methods and Stylized Facts of Business cycles in Norway. First International Meeting on Economic Cycles; 2000-06-21 UiO

Bjørnland, Hilde C. 

VAR Models in Macroeconomic Research. Forelesningsserie i tidserieøkonometri; 2000-09-01 UiO

Bjørnland, Hilde C. 

Identifying Domestic and Imported Core Inflation. Annual Congress of the European Economic Association; 1998-09-01 UiO

Bjørnland, Hilde C. 

Business Cycle Fluctuations in a Small Open Economy - Real versus Nominal Shocks. Third International Conference On Financial Econometrics; 1997-07-13 UiO

MEDIA CONTRIBUTIONS

Bjørnland, Hilde C. 

Nitrist sommer. Dagens næringsliv 2015 BI

Bjørnland, Hilde C. 

Omstillingsdebatt på avveie. Dagens næringsliv 2015 BI

Bjørnland, Hilde C. 

Prioriteringer i en krevende tid. Dagens næringsliv 2015 BI

Bjørnland, Hilde C. 

Programmering for fremtiden. Dagens næringsliv 2015 BI

Bjørnland, Hilde C. 

Tid for prioritering. Dagens næringsliv 2015 BI

Bjørnland, Hilde C. 

Norway: Cruise control. Financial Times [Newspaper] 2014-02-08 BI

Bjørnland, Hilde C. 

Asia i førersetet. Dagens næringsliv 2013 BI

Bjørnland, Hilde C. 

Bruk pengene smartere. Dagens næringsliv 2013 BI

Bjørnland, Hilde C. 

Detaljstyrt stat. Dagens næringsliv 2013 BI

Bjørnland, Hilde C. 

Tåler vi halvert oljepris?. Dagens næringsliv 2013 BI

Bjørnland, Hilde C. 

Valgkamp i en krevende tid. Dagens næringsliv 2013 BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Oljeringvirkninger. Dagens næringsliv 2013 BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Ringvirkninger av olje. Finansavisen 2013 BI

Bjørnland, Hilde C. 

Gjestekommentar hver åttende uke i Dagens Næringsliv. Dagens næringsliv 2012 BI

Bjørnland, Hilde C; NRK, nyhetsjournalist. 

Har gitt diverse intervju for Dagsnytt 18, Dagsrevyen, Ekko, Dagsnytt. [TV] 2012-12-31 BI

Thorsrud, Leif Anders; Bjørnland, Hilde C. 

Ser i glasskulen med nye øyne. Dagens Næringsliv [Newspaper] 2012-12-31 BI

Bjørnland, Hilde C. 

Evig boligprisvekst?. Dagens næringsliv 2011 BI

Bjørnland, Hilde C. 

Jubileum og Justering. Dagens næringsliv 2011 BI

Bjørnland, Hilde C. 

Ond sirkel i USA. Dagens næringsliv 2011 BI

Bjørnland, Hilde C. 

Skjermet fra Eurokrisen. Dagens næringsliv 2011 BI

Bjørnland, Hilde C. 

Staten – for stor og dyr. Dagens næringsliv 2011 BI

Bjørnland, Hilde C; Moen, Espen R. 

Norge etter oljen. Dagens næringsliv 2011 p. - BI

Bjørnland, Hilde C; Moen, Espen R. 

Oljens Ringvirkninger. Dagens næringsliv 2011 BI

Bjørnland, Hilde C. 

En troverdig penge- og finanspolitikk?. Dagens næringsliv 2002 UiO

Bjørnland, Hilde C. 

Kunnskap og skjønn. Dagens næringsliv 2002 UiO

POPULAR SCIENTIFIC ARTICLES

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Ringvirkninger i råvareproduserende land. Samfunnsøkonomen 2016 (1) p. 40-41 BI

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Hva skjer når oljeprisen faller? (Aktuell kommentar). Samfunnsøkonomen 2015 ;Volume 129.(2) p. 22-29 BI

CHAPTERS

Bjørnland, Hilde C; Maih, Junior. 

Monetary policy and exchange rate stabilization in Norway and Sweden. I: Reform Capacity and Macroeconomic Performance in the Nordic Countries. Oxford University Press 2015 ISBN 978-0-19-871710-2. p. 136-162 BI

BOOKS

Bjørnland, Hilde C; Thorsrud, Leif Anders. 

Applied Time Series for Macroeconomics. Gyldendal Akademisk 2015 (ISBN 9788205480896) 318 p. BI