IMF Staff Country Reports

Norway: Selected Issues

Publication Date:

May 22, 1998

Electronic Access:

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Summary:

This Selected Issues paper examines the role of the State Petroleum Fund in Norwegian economic policy, as a means to promote a sustainable long-term fiscal position and to help maintain the competitiveness of the non-oil (“mainland”) economy in the face of high oil export revenues. The paper documents the historical development of the wage bargaining framework in Norway, a country with a fairly centralized framework. It also compares recent wage developments in Norway with those of its trading partners to assess the implications for Norway’s international competitiveness.

Series:

Country Report No. 1998/034

Subject:

Commercial banks Exchange rates Financial institutions Foreign exchange Labor Nominal effective exchange rate Oil Real exchange rates Real wages Wages