Bjørnar Karlsen Kivedal

• Kivedal, Bjørnar Karlsen (2023). Evaluating DSGE Models: From Calibration to Cointegration. I Sloboda, Brian (Red.), Econometrics - Recent Advances and Applications. IntechOpen. ISSN 978-1-80356-525-5. doi: 10.5772/intechopen.111677.
• Kivedal, Bjørnar Karlsen (2023). Long run non-linearity in CO2 emissions: the I(2) cointegration model and the environmental Kuznets curve. Empirica. ISSN 0340-8744. 50, s. 899–931. doi: 10.1007/s10663-023-09587-8.
• Anundsen, André Kallåk; Kivedal, Bjørnar Karlsen; Røed Larsen, Erling & Thorsrud, Leif Anders (2022). Behavioral changes in the housing market before and after the Covid-19 lockdown. Journal of Housing Economics. ISSN 1051-1377. 59. doi: 10.1016/j.jhe.2022.101907. Fulltekst i vitenarkiv
• Leick, Birgit; Kivedal, Bjørnar Karlsen; Eklund, Mehtap & Vinogradov, Evgueni (2021). Exploring the relationship between Airbnb and traditional accommodation for regional variations of tourism markets. Tourism Economics. ISSN 1354-8166. 28(5), s. 1258–1279. doi: 10.1177/1354816621990173. Fulltekst i vitenarkiv Vis sammendrag

  The relationship between Airbnb-based and traditional accommodation is mainly documented for key tourist destinations with a large tourism sector, while there is almost no evidence on this for other destinations. This article focuses on regional variations in the relationship between Airbnb-based and traditional accommodation across primary and secondary tourist destinations in Norway. Through an exploratory cluster analysis and a panel vector autoregressive (PVAR) model with forecast error decomposition of shocks (unobserved effects), it finds evidence of spillovers from Airbnb-based accommodation to traditional accommodation in secondary destinations. The demand for traditional accommodation is positively affected by Airbnb demand in the long run. Interestingly, a smaller effect is found with the supply-side of regional tourism markets in the Norwegian secondary tourist destinations. The growth of Airbnb may, thus, spur growth in the general tourism sector in such less frequented destinations.

• Røed Larsen, Erling; Anundsen, André Kallåk; Kivedal, Bjørnar Karlsen & Thorsrud, Leif Anders (2020). Behavioral changes and policy effects during Covid-19: Evidence from day-by-day sales and bid-by-bid auction logs in the housing market, (with André K. Anundsen, Bjørnar Karlsen Kivedal, and Leif Anders Thorsrud. Housing Lab Working Paper Series 2020-3. . Housing Lab Working Paper Series. ISSN 2703-786X. 2020(3).
• Leick, Birgit; Schewe, Theo & Kivedal, Bjørnar Karlsen (2020). Tourism development and border asymmetries: An exploratory analysis of market-driven cross-border shopping tourism. Tourism Planning & Development. ISSN 2156-8316. 18(6), s. 673–698. doi: 10.1080/21568316.2020.1837230. Fulltekst i vitenarkiv Vis sammendrag

  This paper explores whether shopping tourism in the context of cross-border regions may trigger more viable, and long-term, tourism despite persistent border asymmetries (e.g., price and tax differences) which are typically key to luring tourists to short-term shopping visits. While tourism development is often an explicit goal of cross-border policy initiatives, this paper is devoted to the market-driven processes that might drive tourism beyond short-term shopping in borderlands. Based upon a case study from the Norwegian-Swedish border region of Østfold-Fyrbodal, it finds that asymmetric cross-border shopping tourism supports the development of a diversified tourism sector with a variety of tourist attractions and services organised around shopping, longer overnight stays and second-home tourism. Despite persistent border asymmetries, market processes may balance off the short-term shopping visits towards supporting long-term tourism, which provides economic value to the cross-border region.

• Leick, Birgit; Eklund, Mehtap & Kivedal, Bjørnar Karlsen (2020). Digital entrepreneurs in the sharing economy: A case study on Airbnb and regional economic development in Norway. I Strømmen-Bakhtiar, Abbas & Vinogradov, Evgueni (Red.), The impact of the sharing economy on business and society : digital transformation and the rise of platform businesses. Routledge. ISSN 978-0-367-26428-4. s. 69–88. Vis sammendrag

  Driven by a rising awareness for sustainability on the level of society, the sharing economy is increasingly considered both as an element of the modern economy and innovation that is based on new technologies, new business models, and new ways of consumer-producer interaction. It offers abundant and prominent opportunities for entrepreneurship. In this chapter, we describe the sharing economy as a distinct type of digital entrepreneurship and give first insights into the unexplored topic of its impact on regional economic development.. Using Airbnb rental data for the tourist destination of Østfold, a peripheral region of southeastern Norway, we describe this type of digital entrepreneurship in the sharing economy as an alternative to traditional accommodation and link its growth to regional employment or unemployment. We present descriptive statistics and an empirical analysis and find that digital entrepreneurs associated with Airbnb are influenced by the prevalence of “traditional” accommodation and driven by unemployment in the region. We have also found an indication that these digital entrepreneurs in the region are opportunity driven rather than necessity. With this finding, we provide first ideas about this unexplored research avenue and evoke follow-up research questions.

• Vinogradov, Evgueni; Kivedal, Bjørnar Karlsen & Leick, Birgit (2020). An agent-based modelling approach to housing market regulations and Airbnb-induced tourism. Tourism Management. ISSN 0261-5177. 77. doi: 10.1016/j.tourman.2019.104004. Vis sammendrag

  Airbnb has shown constant growth and it provides income and taxes to tourist destinations. However, the prevalence of a substantial number of Airbnb providers in tourist destinations may lead to bottlenecks in rental housing markets. Regional planners and policy-makers across the world are therefore imposing restrictions to regulate this hitherto unregulated business model. The present paper sheds light on the link between housing-market regulation and the growth of Airbnb, based upon Norwegian Airbnb listings and agent-based modelling. The simulation results suggest that Airbnb's current growth will not simply flatten out when the supply matches the demand, but will be followed by a series of sudden crises and subsequent quick recoveries. These instabilities will put stress on local rental markets and threaten both the local tourism industry and rental housing markets. Moderate taxation may contribute to a more even distribution of Airbnb listings in Norway, notably across the urban space.

• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Igangsetting og boligprisvekst. Er effekten symmetrisk mellom boligmarkedssegmenter? Praktisk økonomi & finans. ISSN 1501-0074. 35(2), s. 132–149. doi: 10.18261/issn.1504-2871-2019-02-06.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2018). Commercial Real Estate at the ZLB: Investment Demand and CAPM-WACC Invariance. Nordic Journal of Surveying and Real Estate Research. ISSN 1459-5877. 13(1), s. 32–53. doi: 10.30672/njsr.68989. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2017). Risikojustert meravkastning i boligmarkedet. Praktisk økonomi & finans. ISSN 1501-0074. 33(1), s. 113–135. doi: 10.18261/issn.1504-2871-2017-01-09. Fulltekst i vitenarkiv
• Kivedal, Bjørnar Karlsen (2017). A new Keynesian framework and wage and price dynamics in the USA. Empirical Economics. ISSN 0377-7332. s. 1–19. doi: 10.1007/s00181-017-1320-8. Fulltekst i vitenarkiv Vis sammendrag

  This paper investigates theoretical implications from a new Keynesian model focusing on the labor market, by imposing them as testable restrictions in an estimated vector error correction model on US data from 1982Q3 to 2016Q1. By this, I conduct an important, but rarely addressed, step in assessing the empirical relevance of a theoretical new Keynesian model. Another advantage of this approach is that the cycle and trend components of the data are separated when imposing the testable restrictions, such that there is no need to filter the data series prior to estimation. The results show that most of the properties pertaining to the theoretical model cannot be rejected when imposed as restrictions. The new Keynesian model on the labor market is thus found to be empirically relevant. Furthermore, the estimated econometric model explains a large degree of the wage and price dynamics in the USA, such that the paper also provides an estimated macroeconometric model.

• Kivedal, Bjørnar Karlsen (2013). A DSGE model with housing in the cointegrated VAR framework. Empirical Economics. ISSN 0377-7332. 47(3), s. 853–880. doi: 10.1007/s00181-013-0765-7. Vis sammendrag

  In order to empirically investigate the assumptions underlying a theoretical dynamic stochastic general equilibrium (DSGE) model, the long-run and the short-run structure of the model may be imposed in the framework given by a cointegrated vector autoregression (CVAR) model. This allows testing restrictions pertaining to the model without filtering the data before estimating the model. A DSGE model which includes financial markets is tested in the CVAR framework, and restrictions from the theoretical model are mainly rejected. Comparing impulse response functions from the theoretical model and the restricted empirical model also show that the results from the theoretical model are not found in the data. This suggests that the theoretical model needs to be extended or modified before it can match the empirical observations.

• Kivedal, Bjørnar Karlsen (2013). Testing for rational bubbles in the US housing market. Journal of macroeconomics. ISSN 0164-0704. 38, s. 369–381. doi: 10.1016/j.jmacro.2013.08.021. Vis sammendrag

  The presence of a bubble in the US housing market prior to the 2007 subprime mortgage financial crisis is investigated. This is done by looking into the relationship between house prices and rental prices, known as the price–rent ratio, which is an important measure of a potential deviation between house prices and its fundamental value. Additionally, the interest rate is taken into account since it is an important factor in determining demand for housing mortgages and thereby influencing house prices, and explosive behavior of house prices is considered. These relationships are investigated through a theoretical and econometrical framework. The empirical evidence suggests that there was a bubble in the housing market prior to the financial crisis, even when controlling for the decreasing interest rate and the fundamental information given by the rental price in the period. Explosiveness was the main source of the price increase, such that a bubble was present in the housing market after correcting for other fundamental factors. The econometric procedures used in the analysis may therefore be relevant for monitoring the housing market.

• Borgersen, Trond Arne; Kivedal, Bjørnar Karlsen & Thøgersen, Joachim (2013). Egenkapitalkrav og finansiell risiko i husholdningenes boliginvesteringer. Magma forskning og viten. ISSN 1500-0788. s. 22–28. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2012). Pris- og belåningsgevinster i husholdningenes boligformue. Praktisk økonomi & finans. ISSN 1501-0074. 29(2), s. 85–91.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2012). Finansielle akseleratorer i boligmarkedet : en kortsiktstilnærming med utgangspunkt i boliginvesteringers belåningsgrad og belåningsgevinst. Beta. ISSN 0801-3322. 26(2), s. 147–159.

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• Kivedal, Bjørnar Karlsen (2024). Applied Statistics and Econometrics: Basic Topics and Tools with Gretl and R. Palgrave Macmillan. ISBN 978-3-031-53141-5. 264 s.
• Kivedal, Bjørnar Karlsen (2023). Anvendt statistikk og økonometri. Grunnleggende temaer og anvendelser i Gretl og R. Universitetsforlaget. ISBN 9788215068312. 296 s.

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• Kivedal, Bjørnar Karlsen (2024). Investigating international carbon leakage in the GVAR model.
• Kivedal, Bjørnar Karlsen (2024). Natural disasters, insurance claims and regional housing markets.
• Kivedal, Bjørnar Karlsen (2023). Natural disasters, insurance claims, and regional housing markets.
• Aastveit, Knut Are; Anundsen, André Kallåk; Kivedal, Bjørnar Karlsen & Røed Larsen, Erling (2023). Housing bubble scars. Housing Lab Working Paper Series. ISSN 2703-786X.
• Kivedal, Bjørnar Karlsen (2023). Investigating international spillovers for CO2 emissions in the GVAR model.
• Kivedal, Bjørnar Karlsen (2023). Investigating international spillovers for CO2 emissions in the GVAR model.
• Kivedal, Bjørnar Karlsen (2023). Natural disasters, extreme weather and the housing market: An analysis using Norwegian insurance claims data.
• Kivedal, Bjørnar Karlsen (2022). Social Housing Policy in Rental-Intensive and Owner-Intensive tenure structures: Contributions to housing market stability.
• Kivedal, Bjørnar Karlsen (2022). Natural disasters, extreme weather and the housing market: An analysis using Norwegian insurance claims data.
• Kivedal, Bjørnar Karlsen (2022). Natural disasters, extreme weather and the housing market. .
• Kivedal, Bjørnar Karlsen (2022). Natural disasters, extreme weather and the housing market: An analysis using Norwegian insurance claims data.
• Kivedal, Bjørnar Karlsen (2021). Ifølge «Bobleindeksen» er boligmarkedet overpriset: -Folk er optimistiske. [Avis]. Fredriksstad Blad.
• Leick, Birgit; Kivedal, Bjørnar Karlsen; Eklund, Mehtap & Vinogradov, Evgueni (2021). Airbnbs vekst kan støtte utviklingen av turismen på bygda. Forskersonen.no.
• Leick, Birgit; Kivedal, Bjørnar Karlsen; Eklund, Mehtap & Vinogradov, Evgueni (2021). The growth of Airbnb can support tourism development in remote tourist destinations. sciencenorway.no.
• Kivedal, Bjørnar Karlsen (2020). Natural disasters and the housing market: Build back better?
• Kivedal, Bjørnar Karlsen (2020). Natural disasters and house prices.
• Leick, Birgit; Eklund, Mehtap & Kivedal, Bjørnar Karlsen (2020). Digital entrepreneurship, sharing economy and regional development.
• Leick, Birgit; Kivedal, Bjørnar Karlsen; Eklund, Mehtap & Vinogradov, Evgueni (2020). Airbnb and tourism development in secondary tourist destinations: An exploratory study. Vis sammendrag

  There is a knowledge gap on the prevalence of Airbnb and its impact on tourism development in less developed tourist regions, so-called secondary tourist destinations. By exploring this gap, the present paper contributes with a two-step exploratory study: First, it analyses the regional case of Østfold, a Norwegian secondary tourist destination, which is, second, followed by a cross-country comparison. The paper specifically analyses the direction and strength of the relationship between traditional accommodation and Airbnb-based tourism, which is a hitherto understudied topic notably for less frequented tourist destinations. Keywords: Sharing economy, secondary tourist destinations, tourism development, regional economic development

• Leick, Birgit; Kivedal, Bjørnar Karlsen; Aldogan Eklund, Mehtap & Vinogradov, Evgueni (2020). On the link between Airbnb-based Accommodation and Tourism Development in Secondary Tourist Destinations: An Exploratory Analysis . Vis sammendrag

  There is a knowledge gap on the prevalence of Airbnb and its impact on tourism development in less developed tourist regions, so-called secondary tourist destinations. By exploring this gap, the present paper contributes with a two-step exploratory study: First, it analyses the regional case of Østfold, a Norwegian secondary tourist destination, which is, second, followed by a cross-country comparison. The paper specifically analyses the direction and strength of the relationship between traditional accommodation and Airbnb-based tourism, which is a hitherto understudied topic notably for less frequented tourist destinations. Keywords: Sharing economy, secondary tourist destinations , tourism development, regional economic development

• Kivedal, Bjørnar Karlsen (2020). Speculative Bubbles in US Regional Housing Markets.
• Kivedal, Bjørnar Karlsen (2019). Debt Deciles: Derail and Demise?
• Kivedal, Bjørnar Karlsen (2019). Speculative Bubbles in Regional Housing Markets.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Fortsatt boligprisvekst i Sarpsborg - og andelen husholdninger med høy gjeldsbelastning vokser. Sarpsborg Arbeiderblad.
• Kivedal, Bjørnar Karlsen (2019). Investigating international spillovers for CO2 emissions in the GVAR model.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Halden på leietoppen i Østfold. Halden Arbeiderblad.
• Kivedal, Bjørnar Karlsen (2019). The Environmental Kuznets Curve for CO2 emissions in the US and the I(2) cointegration model.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Østfoldingen - Han er utenfor han! Sarpsborg Arbeiderblad.
• Kivedal, Bjørnar Karlsen (2019). Investigating the Environmental Kuznets Curve for the US through the I(2) Cointegration Model.
• Kivedal, Bjørnar Karlsen (2018). Investigating the Environmental Kuznets Curve for the US through the I(2) Cointegration Model.
• Vinogradov, Evgueni; Kivedal, Bjørnar Karlsen & Leick, Birgit (2018). Modelling development of online peer-to-peer accommodation services: an agent-based approach.
• Kivedal, Bjørnar Karlsen (2018). Investigating the Environmental Kuznets Curve for the US through the I(2) Cointegration Model.
• Kivedal, Bjørnar Karlsen (2018). Was there a nationwide house price bubble in the US in the 2000s? Testing for rational bubbles in US metro areas.
• Kivedal, Bjørnar Karlsen (2018). Investigating the Environmental Kuznets Curve for the US through the I(2) Cointegration Model.
• Kivedal, Bjørnar Karlsen (2018). Was there a nationwide house price bubble in the US in the 2000s? Testing for rational bubbles in US metro areas.
• Kivedal, Bjørnar Karlsen (2017). The CVAR model and estimation of DSGE models.
• Kivedal, Bjørnar Karlsen (2017). The Cointegrated Vector Autoregressive (CVAR) Model – A Short Introduction.
• Borgersen, Trond-Arne & Kivedal, Bjørnar Karlsen (2017). Fremdeles for lav boligbygging. Sarpsborg Arbeiderblad. s. 8–9.
• Borgersen, Trond-Arne & Kivedal, Bjørnar Karlsen (2017). Hva er det med Sarpsborg? Sarpsborg Arbeiderblad. s. 8–9.
• Kivedal, Bjørnar Karlsen; Wu, Hong & Tufte, Geir Conrad (2017). Om å bygge fremtiden. Moss Avis. s. 14–15.
• Kivedal, Bjørnar Karlsen (2017). Was there a nationwide house price bubble in the US in the 2000s? Testing for rational bubbles in US metro areas.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2016). Høy boligprisvekst i Fredrikstad: Tilflytting og et todelt boligmarked. Demokraten.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2015). Svakere boligprisvekst og høyere boligprisrisiko i Fredrikstad enn i Sarpsborg. Demokraten.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2015). Høy prisvekst og lav nybyggingstakt. Sarpsborg Arbeiderblad.
• Kivedal, Bjørnar Karlsen (2015). A New Keynesian Framework and Wage and Price Dynamics in the US.
• Kivedal, Bjørnar Karlsen (2014). A New Keynesian Framework and Wage and Price Dynamics in the US.
• Kivedal, Bjørnar Karlsen (2013). A New Keynesian Framework and Wage and Price Dynamics in the US.
• Borgersen, Trond Arne; Kivedal, Bjørnar Karlsen & Thøgersen, Joachim (2013). Belåningsgrad, egenkapitalkrav og finansieringsrisiko ved kjøp av bolig. Eiendomsmegleren. ISSN 0803-7345. s. 20–22.
• Kivedal, Bjørnar Karlsen (2012). A DSGE model with housing in the cointegrated VAR framework. Working Paper Series at Department of Economics, NTNU. ISSN 1503-299X. doi: 10.1007/s00181-013-0765-7.
• Kivedal, Bjørnar Karlsen (2012). Testing for Rational Bubbles in the US Housing Market.
• Kivedal, Bjørnar Karlsen (2012). A DSGE Model with Housing in the Cointegrated VAR Framework.
• Kivedal, Bjørnar Karlsen (2012). A DSGE Model with Housing in the Cointegrated VAR Framework.
• Kivedal, Bjørnar Karlsen (2012). A DSGE Model with Housing in the Cointegrated VAR Framework.
• Kivedal, Bjørnar Karlsen (2022). Boligpriser og kvikkleireskred. Universitetet i Oslo.
• Kivedal, Bjørnar Karlsen (2021). Essays on the Reformed Norwegian Electricity Retail Market. NMBU, Handelshøyskolen.
• Kivedal, Bjørnar Karlsen (2021). Macroprudential Policies and Housing Prices in Oslo. The effect of loan-to-value and debt-to-income regulations on the Oslo housing market. OsloMet - storbyuniversitetet.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). BOLIGMARKEDSUTVIKLINGEN I ØSTFOLD: EN ANALYSE AV REGIONALE BOLIGMARKEDER I ØSTFOLD SETT I LYS AV ARBEIDSMARKEDS- OG BEFOLKNINGSUTVIKLING. Høgskolen i Østfold.
• Kivedal, Bjørnar Karlsen (2013). A New Keynesian Framework and Wage and Price Dynamics in the US. NTNU, Department of economics. ISSN 1503-299X.
• Kivedal, Bjørnar Karlsen (2013). Testing economic theory using the cointegrated vector autoregressive model: new Keynesian models and house prices. Norwegian University of Science and Technology, Faculty of Social Sciences and Technology Management, Department of Economics. ISSN 978-82-471-4824-2.
• Kivedal, Bjørnar Karlsen (2012). Testing for rational bubbles in the housing market. Department of economics, NTNU. ISSN 1503-299X.
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2011). Pris- og belåningsgevinster i husholdningenes boligformue. Høgskolen i Østfold. ISSN 978-82-7825-357-1.
• Karlsen, Bjørnar Kivedal & Bårdsen, Gunnar (2008). Estimering av en enkel ny-keynesiansk modell for norsk økonomi. NTNU,.

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