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26-01-2021

Pension fund response to ECB purchases

In early 2015, when the European Central Bank (ECB) began purchasing government bonds issued by euro area countries, Danish pension funds sold off the bonds purchased by the ECB to buy Danish bonds. Changes to the ECB's monetary policy stance are important to Danmarks Nationalbank and Danish monetary policy.

24-11-2020

Increased uncertainty reduces investment appetite during covid-19

Uncertainty about the future has caused Danish corporations to hold back on investment during the covid-19 outbreak. These are among the conclusions of a new Working Paper in which economists Mikkel Bess, Erik Grenestam, Alessandro Martinello and Jesper Pedersen, Danmarks Nationalbank, have analysed whether uncertainty has an impact on economic activity in Denmark.

03-07-2020

Losses on dollar assets contributed to pressure on the Danish krone

A new publication by Danmarks Nationalbank compares the pressure on the krone during the corona crisis with three earlier periods of krone pressure over the past 12 years. The pressure on the krone in March this year was unusual because it was not impacted by for example speculation about the Danish fixed exchange rate policy. Rather, it was caused by Danish institutional investors selling kroner in response to a decline in the value of their foreign assets.

01-07-2020

New tools for assessing the economy

During the corona crisis, Danmarks Nationalbank has implemented new tools for its ongoing monitoring of the Danish economy. These include models for nowcasting gross domestic product, GDP, growth. Nowcasting models are advanced statistical models that process a wide range of key economic indicators and real-time indicators as they are released. The models include figures for employment, unemployment, inflation, house sales and a number of other key economic indicators as they are released. That way, the models can produce nowcasts of GDP growth for the current quarter.

08-06-2020

Large savings go hand-in-hand with high debt

Pension savings in Denmark have increased sharply since the 1990s. Over the same period, Danish household debt has also risen strongly. On average, a kr. 100 increase in pension wealth leads to a kr. 26 increase in total debt. This is one of the conclusions of a working paper in which economists Andreas Kuchler and Henrik Yde Andersen, Danmarks Nationalbank, and Niels Lynggård Hansen, the European Stability Mechanism (ESM), have analysed extensive data on pension savings and household debt.