Trond Arne Borgersen

• Emblem, Anne Wenche & Borgersen, Trond Arne (2026). Differentiated New Housing: Implications for Market Equilibrium and the Effect of Shocks. Nordic Journal of Surveying and Real Estate Research. ISSN 1459-5877. 19(2), s. 7–29. doi: 10.30672/njsr.177940. Fulltekst i vitenarkiv Vis sammendrag

  It is widely established that housing supply is differentiated across multiple dimensions, and a substantial body of empirical research has explored how various housing and locational characteristics influence prices. While the responsiveness of housing supply to price changes is of both theoretical and practical importance, the supply side of the housing market remains relatively underexplored. This paper revisits core economic insights on product differentiation and examines their implications for housing prices and supply elasticity. We question the common assumption that increased housing supply necessarily dampens prices. Instead, we propose that higher supply, when accompanied by increased differentiation, may indeed reduce the elasticity of supply, making supply less responsive to rising demand. By means of a simple theoretical model, we show that when housing supply is more differentiated, demand shocks tend to produce sharper price increases and more limited changes in housing quantity, compared to markets with more uniform supply. These insights are highly relevant to housing market debates and should be considered, despite the methodological challenges of estimating price effects from unobservable housing attributes.

• Aas, Erlend Sand; Borgersen, Trond Arne & Fange, Kari Anne (2025). Optimalisering av langsiktige risikopremier: porteføljekonstruksjon med kunstig intelligens. Beta – Scandinavian Journal of Business Research. ISSN 0801-3322. 39(1), s. 1–18. doi: 10.18261/beta.39.1.4. Fulltekst i vitenarkiv
• Emblem, Anne Wenche & Borgersen, Trond Arne (2025). The Housing Supply Chain and the Elasticity of Housing Supply. Tidsskrift for boligforskning. 8(1), s. 19–39. doi: 10.18261/tfb.8.1.3. Fulltekst i vitenarkiv Vis sammendrag

  Why is housing supply inelastic with respect to price? In this paper, we abstract away from arguments related to slow and restrictive regulation of land to address how frictions and market power in the housing supply chain reduce the elasticity of housing supply. Our approach is theoretical, and we derive housing supply elasticities under various assumptions on the links between the supply chain tiers and market power. We show that even within a rather simple supply chain of three tiers, the supply elasticity is quite complex and highly context-specific. Frictions in the flows between tiers impose costs and market power induces mark-ups, leading to low quantities of housing supplied and a less elastic housing supply. Lastly, the paper studies how shocks to housing demand may impact the housing market equilibrium very differently depending on the housing supply chain elasticity, incorporating frictions and market power across the supply chain.

• Borgersen, Trond Arne & Aas, Erlend Sand (2023). Førstegangsetablering og lånefinansierte boligkjøp. Belåningsgevinst, finansieringsrisiko og ikke-linearitet i boliglånstilbudet. Tidsskrift for boligforskning. 6(2), s. 152–171. doi: 10.18261/tfb.6.2.7. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Emblem, Anne Wenche (2023). Direct and Indirect Effects of Housing Market Policies using an Augmented DiPasquale-Wheaton framework. Tidsskrift for boligforskning. 6(1), s. 4–29. doi: 10.18261/tfb.6.1.2. Fulltekst i vitenarkiv Vis sammendrag

  This paper analyses a set of housing market policies in an augmented DiPasquale-Wheaton (ADPW) model where the price-rent (PR) ratio ensures housing market equilibrium across different types of tenure. The aim of the paper is educational, putting several housing market policies into a comprehensive context where the rental housing market, the housing construction industry and the market for owner-occupied housing are interrelated. Housing market dynamics takes both direct and indirect effects into account. The paper finds that introducing tax-deductible mortgage interest rates has a positive effect on house prices. This policy stimulates housing starts and pushes down rental prices. A property tax has a negative effect on house prices while lifting the rental price as the housing industry contracts. Social housing policy interventions on the supply side of the housing market partly crowd out commercial housing supply. Demand-side vouchers have stronger short-run effects as long-run effects incorporate the housing construction industry’s reaction to house price signals. Finally, rental subsidies create a gap between the rent paid by a tenant and the rent received by a landlord. The aggregate effect of a rental subsidy is related to the elasticities of supply and demand, where not only renters, but also homeowners and landlords, may benefit when supply and demand are very elastic.

• Borgersen, Trond Arne (2022). A housing market with Cournot competition and a third housing sector. International Journal of Economic Sciences. XI(2), s. 13–27. doi: 10.52950/ES.2022.11.2.002. Fulltekst i vitenarkiv Vis sammendrag

  This paper integrates a non-profit third-housing sector (THS) into a housing market with Cournot competition. The paper analyses the indirect effects of a THS on the aggregate housing market, on a commercial housing supplier and on the market adaption of households not embraced by the THS. While beneficial for households included in the THS, a question arises related to the indirect effects of a THS. The paper argues for crowding-out and higher house prices in the commercial housing market in response to a THS expansion. In addition, a THS also affects the strategic behaviour of the commercial housing supplier. Compared to a conventional Cournot housing market, a fixed THS housing supply changes the market structure from one where the housing supply of different housing providers are alternative to one-another, to a market structure where housing supply is complementary.

• Borgersen, Trond Arne & Emblem, Anne Wenche (2022). Mortgage market induced booms and busts in the housing market in a modified DiPasquale-Wheaton model. International Real Estate Review (IRER). ISSN 2154-8919. 25(3), s. 281–306. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & King, Roswitha Maria Berta (2022). Lending gains and funding risk in Baltic housing markets. Eurasian Journal of Economics and Finance (EJEF). 10(3), s. 105–119. doi: 10.15604/ejef.2022.10.03.003. Fulltekst i vitenarkiv Vis sammendrag

  This paper analyzes lending gains and funding risk in the Baltic housing markets. Transition economies are exposed to both cycles and structural shifts, relating housing market fundamentals to a more diversified set of processes than in mature economies. Still, as housing is a nontradable good, transition allows for high rates of appreciation. When house price growth exceeds the mortgage rate, there are lending gains from mortgage-financed housing. As higher leverage increases funding risk, a challenge emerges for transition economies, which are in a monetary union with mature economies. Asymmetric shocks to housing markets may threaten financial stability as the monetary policy does not respond to country-specific house price bubbles. In addition to a discussion on asymmetric shocks and the role of housing, the paper offers an illustration of the lending gain and the funding risk that housing markets in transition economies may entail. The paper simulates the return to housing equity across the Baltic states over the period 2010-2020. While a strong housing market has provided Estonian households with the highest price gains, both Latvian and Lithuanian households have taken advantage of the deepening monetary integration towards the end of the period. Still, the more volatile housing markets in the two southernmost Baltic states make leverage set its mark on the risk-return profile.

• Borgersen, Trond Arne (2021). Product differentiation and populistic entry strategies in a mortgage market with Bertrand competition. Journal of European Real Estate Research. ISSN 1753-9269. doi: 10.1108/JERER-03-2021-0013. Fulltekst i vitenarkiv
• Badshah, Imtiaz & Borgersen, Trond Arne (2020). Management of Exchange Rate Risk In SMES: Reflections On Exchange Rate Pass-Through and Hedging of Currency Risk. SEISENSE Journal of Management (JOM). 3(6), s. 35–49. doi: 10.33215/sjom.v3i6.474. Fulltekst i vitenarkiv Vis sammendrag

  Exchange rate fluctuations represent a challenge for the internationalization of all firms, both big and small. This paper reflects on two aspects of the exchange rate challenge - (i) the exchange rate pass-through and (ii) hedging of exchange rate risk and how SMEs manage these two aspects of exchange rate risk. The exchange rate challenges that SMEs face might differ from the risks larger firms are exposed to, and their management of the risks might vary. In family-owned SMEs, longer planning horizons than listed firms might imply a weaker exchange rate pass-through, while smaller financial buffers might pull pass-through rules in the opposite direction for the same SMEs. When considering hedging, the paper argues for both operational hedging and external hedging to represent a management challenge for SMEs, pushing the exchange rate risk towards the forefront of the factors hampering internationalization among SMEs.

• Borgersen, Trond Arne (2020). Loan-to-value and the price-rent ratio. Journal of European Real Estate Research. ISSN 1753-9269. doi: 10.1108/JERER-12-2019-0053. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Rynning, Marjo (2019). Reflections on Credit Market Incentives in a Small Open Economy with a Dominant Market Player. The Case of Norwegian Banking. International Journal of Economics and Business. ISSN 1948-5166. 7(1 & 2), s. 43–62. Fulltekst i vitenarkiv Vis sammendrag

  This paper reflects on the banking market in Norway, a small open economy with a market player that is “too big- and too public to fail” (TBTPF). Discussing competition, risk and regulation, this paper reflects on market characteristics relevant for banking in other small open economies. Targeting the mortgage market, the dominant player contributes to credit­ driven housing appreciations, which, when combined with floating mortgage rates, represents the main component in any financial stability assessment. The market share of foreign branches and subsidiaries, institutions not fully regulated by the Norwegian FSA, also contributes. The potential for a flight-home effect during a crisis might be the strongest risk contribution from foreign banking. In this respect the deviation from the single rulebook in Norwegian regulation is a paradox, as the risk shifting incentives created may contribute to a credit-crunch and be an ex post threat to financial stability.

• Borgersen, Trond Arne (2019). Social Housing Policy in a Segmented Housing Market: Indirect Effects on Markets and Individuals. International Journal of Economic Sciences. 8(2), s. 1–21. doi: 10.20472/es.2019.8.2.001. Fulltekst i vitenarkiv Vis sammendrag

  This paper analyses indirect effects of social housing policy (SHP) in a segmented housing market. A two segment-housing ladder, where equity determines up trading, shows how SHP-measures targeting either housing supply or housing demand impact market developments and individual housing careers. When addressing market developments the paper considers house prices and housing supply. Analysing housing careers we highlights the ability of households indirectly exposed to SHP to trade up a housing ladder. The segmented housing market model contains both multipliers, along the lines of the Balanced Budget Multiplier of Haavelmo (1945), and non-neutral price effects across segments. These features allow some novel results when discussing indirect effects of SHP. Relating SHP to up-trading and a housing ladder where households simultaneously act as buyers and sellers, we first of all show the effect of SHP on the supply of used homes, an important part of housing supply. Second, this framework makes us able to position crowding-out across market segments. Both features are novel in the SHP-discussion. The paper also shows how SHP might create negative indirect effects on the up-trading ability of households that do not benefit from SHP measures.

• Borgersen, Trond Arne & King, Roswitha Maria Berta (2019). Is the transition process neutral to the employment–output ratio? Or does ‘jobless growth’ come naturally? The case when allocative and technological effects interact. Post-Communist Economies. ISSN 1463-1377. doi: 10.1080/14631377.2019.1678102. Fulltekst i vitenarkiv
• 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. Fulltekst i vitenarkiv
• 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 Vis sammendrag

  This paper analyzes the implications of a low interest rate environment (the zero lower bound – ZLB) for the demand for commercial real estate. Investment demand is conventionally assessed by return and risk adjusted return, as given by net present value (NPV) and the Sharpe-ratio. The main question of the paper is whether there is any asymmetry between different evaluation models for the discount rate across different levels of the interest rate. First, we apply a conventional net-present value (NPV) approach, where the weighted average cost of capital (WACC) and the capital asset pricing model (CAPM) are used for evaluation. Considering the invariance level of systemic risk, we find WACC to be an alternative to CAPM for offensive and defensive investments when interest rates are close to historical averages. However, at the ZLB, WACC is only an alternative for investments if they carry the same risk as the market such that beta values are close to one. Second, we simulate our models using US data to see how the WACC shortcut performs across time, and especially at the ZLB, in this economy. We see differences between the period preceding the financial crisis and the period after 2010, even though the Federal Funds rate is close to zero in both periods. We relate this to the difference in systemic risk between the two periods, and show how results in the latter period is quite similar across evaluation models.

• Borgersen, Trond Arne (2017). Mortgage Supply, LTV and Risk Pricing. International journal of housing policy. ISSN 1949-1247. 18(4), s. 522–544. doi: 10.1080/19491247.2017.1336875. Fulltekst i vitenarkiv Vis sammendrag

  This paper focuses on mortgage supply and its contribution to the loan-to-value (LTV)-ratio. The paper starts by finding the optimal LTV-ratio for a profit-maximising mortgagee that supply mortgages using housing as collateral. As the LTV-ratio represents the mortgagee's risk exposure, the optimal LTV-ratio is one where the mortgagee is paid for its actual risk exposure. Thinking in terms of social welfare, the profit-maximising LTV-ratio is also optimal for society in our supply side framework. When including additional characteristics from the supply side of the mortgage market, the paper shows how the profit-maximising LTV-ratio varies according to moral hazard, risk pricing, funding structures, lending volumes and collateral values. The supply side characteristics create a wedge between the profit-maximising LTV-ratio and the LTV-ratio optimal for society. The model helps understand the role of mortgage supply in the period preceding the financial crisis, where LTV-ratios increased considerably. Consequently, it also allows for straightforward arguments regarding macro-prudential policy. Highlighting risk exposure, the paper continues by analysing the risk pricing response to falling house prices and an LTV-ratio that exceeds the LTV-ratio at origination. The paper finds a kinked-relation between the mortgage rate and the LTV-ratio ex post, separating risk pricing ex ante and ex post.

• 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 Vis sammendrag

  I hele landet har boligprisene steget betydelig siden tidlig på 90-tallet. Til tross for sterk boligprisvekst, vokser prisene i ulike segmenter forskjellig. Det er også geografiske variasjoner i prisveksten. Denne artikkelen ser nærmere på sammenhengen mellom prisvekst og prisrisiko i ulike regioner og segmenter av boligmarkedet der vi belyser meravkastningen for ulike boliginvesteringer ved hjelp av to finansteoretiske indikatorer som tilpasses boligmarkedet: Sharpe-raten som skalerer meravkastning med samlet prisrisiko, og Treynorraten som skalerer med systematisk risiko.

• Borgersen, Trond Arne (2017). The optimal LTV-ratio, mortgage market variability and monetary policy regimes: A demand side perspective. Journal of Financial Economic Policy. ISSN 1757-6385. 9(2), s. 225–239. doi: 10.1108/JFEP-06-2016-0044. Fulltekst i vitenarkiv Vis sammendrag

  The purpose of this paper is twofold: First, it derives the optimal LTV-ratio for a mortgagor that maximizes the return to home equity when considering the capital structure of housing investment. Second, it analyses the demand side contribution to mortgage market variability across monetary policy regimes. The paper endogenises both the relation between the loan-tovalue (LTV) ratio and the mortgage rate and the relation between LTV and the rate of appreciation. When analyzing LTV-variance and the demand side contribution to mortgage market variability we consider three stylized regimes. The paper finds an intuitive ranking of LTV-ratios across regimes, where the optimal LTV-ratio peaks during a housing boom. The demand side contribution to market variability is however at its highest during “normal” market conditions in housing and mortgage markets when monetary policy ignores asset inflation. Hence, there is a potentially humped shaped relation between the risk exposure of individual mortgagors and the demand side contribution to mortgage market variability.

• Borgersen, Trond Arne (2016). Housing appreciations and the (in)stable relation between housing and mortgage markets. International journal of housing policy. ISSN 1949-1247. 16(1), s. 91–110. doi: 10.1080/14616718.2015.1069080. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2016). The Exchange Rate Response of Credit-Constrained Exporters: The Role of Location. Theoretical Economics Letters. ISSN 2162-2078. 6(5), s. 927–941. doi: 10.4236/tel.2016.65096. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & King, Roswitha Maria Berta (2016). Industrial structure and jobless growth in transition economies. Post-Communist Economies. ISSN 1463-1377. 28(4), s. 520–536. doi: 10.1080/14631377.2016.1237037. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne & King, Roswitha Maria (2015). Endogenous supply side constraints to export-led growth and aggregate growth implications in transition economies. Structural Change and Economic Dynamics. ISSN 0954-349X. 33, s. 96–109. doi: 10.1016/j.strueco.2015.04.002. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2014). Housing Careers, House Price Dispersion and the Housing Market Multiplier. Housing, Theory and Society. ISSN 1403-6096. 31(1), s. 91–118. doi: 10.1080/14036096.2013.810170. Fulltekst i vitenarkiv

Se alle arbeider i NVA

• Borgersen, Trond Arne (2025). Fritt ord, Kafé | Klimaendringer gir utsikter til dyrere kaffe. doi: https:/www.ha-halden.no/klimaendringer-gir-utsikter-til-dyrere-kaffe/o/5-20-1772132. Fulltekst i vitenarkiv Vis sammendrag

  Jeg drikker for mye kaffe. Alle på jobben sier det. Og jeg vet det selv. Det eneste jeg hamstret under Covid var kaffe.

• Thøgersen, Joachim Minge & Borgersen, Trond Arne (2025). Egne merkevarer gir ikke nødvendigvis lavere matpriser. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2025). Hva kan vi lære av Norges første finansielle krise? Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Aas, Erlend Sand (2025). Kjøpssignaler fra tilbakekjøp? Signaliserings- og priseffekter av tilbakekjøp: En PE-tilnærming. Social Science Research Network (SSRN). Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Tomczak, Danuta Aniela (2025). Kommuneøkonomi og tidlig innsats. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2025). Refleksjoner om Prinsipal-Agent strukturer og kommunaløkonomisk styring. Kommunaløkonomi. 6, s. 14–17. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2024). The market for land and housing supply. How are land market characteristics passed-through the housing supply chain ? Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Aas, Erlend Sand (2024). Kjøpssignaler fra tilbakekjøp? Signaliserings- og priseffekter av tilbakekjøp: En PE-tilnærming. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & King, Roswitha Maria Berta (2024). Transition and Integration Effects in the Baltic Housing Markets: The Dipasquale-Wheaton Approach. Baltic Journal of Real Estate Economics and Construction Management. ISSN 2255-9604. 12. doi: 10.2478/bjreecm-2024-0019. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2024). The housing supply chain. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2023). Increasing housing prices, why doesn't the supply follow suit? Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2023). Kursmål og prising av aksjer ved hjelp av geometriske rekker. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2023). Prismatch-strategier. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2023). Egenkapitalkrav ved boligkjøp. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2023). Increasing housing prices, why doesn't the supply follow suit? Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2022). Housing market policies in an augmented DiPasquale-Wheaton framework. Fulltekst i vitenarkiv
• Aas, Erlend Sand & Borgersen, Trond Arne (2022). Reinvestering, tilbakekjøp eller utbytte i det Norske Markedet. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2022). Norsk økonomisk politikk: Handlingsregel og inflasjonsmål. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2022). Penge- og finanspolitikk i krisesituasjoner. Eksempler fra Covid-pandemi og strømkrise. Fulltekst i vitenarkiv
• Tufte, Geir Conrad & Borgersen, Trond Arne (2022). Det er mer enn en fergetur som skiller ... Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Tufte, Geir Conrad (2022). Snart kan Moss kommune styrkes som boligpolitisk aktør. Fulltekst i vitenarkiv
• Tufte, Geir Conrad & Borgersen, Trond Arne (2022). Husholdninger i Moss med lav inntekt er i mindre grad leieboere enn i andre Østfoldbyer. Fulltekst i vitenarkiv Vis sammendrag

  I kronikken Husholdninger med lav inntekt er i mindre grad leieboere i Moss enn i andre Østfoldbyer skriver Førstelektor Geir Tufte og Dosent Trond Arne Borgersen ved Institutt for økonomi, innovasjon og samfunn om hvilke grupper husholdninger som leier bolig og om boligsosial politikk i Moss kommune. Det fokuseres spesielt på årsakene til at andelen husholdninger som leier bolig i den laveste inntektskvartilen er lavere i Moss enn i de andre Østfoldbyene.

• Borgersen, Trond Arne (2022). Housing market policies in an augmented DiPasquale-Wheaton framework. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2021). The first cut is the deepest. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2021). Tidlig innsats lønner seg. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2021). Høyere priser på kaffe internasjonalt. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2021). Hvem leier bolig i Halden? Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). For høy gjeld i husholdningene. s. 6–6. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). Tulipaner og andre grønne bobler. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). Arendalskrakket - En glemt episode. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). Færre unge og flere eldre uføre i Troms og Finnmark enn ellers i landet. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). Høyere uføreandel. s. 3–3. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2020). Folkehelse, utenforskap og tidlig innsats. s. 8–9. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Østfold er mye utenfor! Svakt arbeidsmarked og høy uføreandel. s. 32–33. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Boliglånsforskriften: Egenkapitalkrav, restriksjoner på husholdningenes gjeldsbelastning og forholdet mellom avkastning og risiko på lånefinansierte boliginvesteringer. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Finansielle spissfindigheter ? - Prising av obligasjoner og rentekurven. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). The Coffee Price Crisis. s. 7–7. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Fortsatt boligprisvekst i Sarpsborg - og andelen husholdninger med høy gjeldsbelastning vokser. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Flere husholdninger som leier bolig i Eidsberg enn i Askim. s. 3–3. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). I Rakkestad er inntektsgapet mot resten av fylket størst for barnefamilier. s. 3–3. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Gjeldsspiralen. s. 3–3. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Halden på leietoppen i Østfold. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Kjøp, Selg, Hold: Prising av aksjer ved hjelp av geometriske rekker. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Et makroøkonomisk blikk på norsk økonomi. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). SMB Bedrifter og sikring mot valutarisiko. I Norvald, Egil Herman & Berndtsson, Leif (Red.), Framgangsfaktorer: Grenseregionen Sverige–Norge; Østfold/Norra Fyrbodal. Högskolan Väst. s. 17–21. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Kommunaløkonomisk lønnsomhet ved forebyggende folkehelsearbeid: En analysramme. Kommunaløkonomi. 5, s. 11–17. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Forebyggende folkehelsearbeid og kommunale (sosiale) investeringsfond:En finansieringsregel. Kommunaløkonomi. 5, s. 17–21. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Boligmarkedet i Østfold. Hvorfor er boligprisene i Østfold lavere enn i landet forøvrig? Likevekt - eller grunnlag for «catching-up»? Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2019). Tendens til at gapet mellom Finnmark og resten av Norge minsker. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2019). Østfoldingen - Han er utenfor han! Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Prisen på bønner. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Europa "forgubbes". Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Endringer i Inflasjonsmål og Finanspolitisk handlingsregel- Er det slutt på oljeeffektene i norsk økonomi? Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). For høy gjeld i husholdningene, for høy belåning av boliger og krav om egenkapital ved boligkjøp. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Tufte, Geir Conrad (2018). Forskning på levekår. s. 19–19. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2018). Høy gjeld, høye priser. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2018). FX-Hedging i SME-Eksportører. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2018). Landeveisrøvere! s. 6–6. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Boligmarkedet og gjeldsbelastningen i husholdningene. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2018). Ikke gråt for Argentina! Eller bare gjør det, det er jo til å gråte av.. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne (2018). Dette har ikke skjedd siden finanskrisen. [Internet]. ABC Nyheter. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Global Ansvarsfordeling. s. 14–14. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2018). Tulips in my head.. s. 7–7. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2017). Global fordeling av formue og NINJA-generasjonen. s. 10–10. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne & Kivedal, Bjørnar Karlsen (2017). Hva er det med Sarpsborg? s. 8–9. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne & Tufte, Geir Conrad (2017). Behov for økt boligbygging. Fulltekst i vitenarkiv
• Borgersen, Trond-Arne & Kivedal, Bjørnar Karlsen (2017). Fremdeles for lav boligbygging. s. 8–9. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2017). A comment on social housing policy in a segmented housing market. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2017). 65 millioner mennesker på flukt. s. 6–6. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2016). Høy boligprisvekst i Fredrikstad: Tilflytting og et todelt boligmarked. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2015). Svakere boligprisvekst og høyere boligprisrisiko i Fredrikstad enn i Sarpsborg. Demokraten. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & Kivedal, Bjørnar Karlsen (2015). Høy prisvekst og lav nybyggingstakt. Fulltekst i vitenarkiv
• Borgersen, Trond Arne & King, Roswitha Maria Berta (2015). Endogenous Limits to Export-Led Growth. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2015). Mortgage Supply, LTV and Risk Pricing. Fulltekst i vitenarkiv
• Borgersen, Trond Arne (2015). Mortgage Supply, LTV and Risk Pricing. Fulltekst i vitenarkiv
• 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. Fulltekst i vitenarkiv

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