André K. Anundsen
P ERSONAL AND
C ONTACT
I NFORMATION
Born: October 26, 1985 in Porsgrunn, Norway
Researcher/Senior Adviser
Norges Bank, Research Department
Bankplassen 2, P.O. Box 1179 Sentrum, Norway
Mobile: +47-97-15-90-34
Office: +47-22-31-63-75
Email: andre-kallak.anundsen@norges-bank.no
Personal web page: www.andre-anundsen.com
R ESEARCH
I NTERESTS
Applied econometrics (and time series in particular), housing markets, financial stability and
macroeconomics
P ROFESSIONAL
E XPERIENCE
Researcher/Senior Adviser
Norges Bank
Research Department
December 2013 – present
• Senior adviser in the financial stability wing and researcher in the research unit
Researcher (part time 10%)
January 2013 – August 2013
Statistics Norway, Unit of Macroeconomics
• Working on issues related to the econometric modeling of the Norwegian housing market. A model for the interaction between housing prices and credit that I have developed
together with Eilev S. Jansen has been implemented in the macroeconometric forecasting and policy analysis model KVARTS, which is maintained and operated by Statistics
Norway.
Junior Executive Officer (part time 20%)
June 2009 – August 2010
Statistics Norway, Unit of Macroeconomics
• Writing master thesis on the interaction between housing prices and credit, which later
resulted in the research project leading to the model for the joint interaction between
housing prices and credit that is now implemented in KVARTS.
Research Assistant
August 2007 – June 2008
University of Oslo, Department of economics
E DUCATION
Ph.D. University of Oslo, Department of Economics, August 2010 – May 2014
Thesis Title: Housing markets and financial stability
Adviser: Professor Ragnar Nymoen
Area of Study: Applied econometrics, Housing Economics, Macroeconomics
Committee: Professor Niels Haldrup (University of Aarhus), Professor Asbjørn Rødseth
(University of Oslo) and Professor Susan Wachter (Wharton, University of Pennsylvania)
• Defended on May 9th , 2014
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•
•
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Academic Visitor, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, January 2012 – June 2012
M.S., University of Oslo, Department of Economics, August 2005 – June 2010
• Thesis Title: Boligpriser, forventninger og gjeld : En økonometrisk analyse av samspillet mellom bolig- og kredittmarkedet i Norge
• Advisers: Professor Ragnar Nymoen and Eilev S. Jansen
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Visiting graduate student, University of Washington, Department of Economics, August
2008 – June 2009
R EFEREED
J OURNAL
P UBLICATIONS
[1] Anundsen, A. K. (2014): Econometric regime shifts and the US subprime bubble. Journal
of Applied Econometrics, Forthcoming.
doi:10.1002/jae.2367
[2] Anundsen, A.K., T. S. H. Krogh, R. Nymoen and J. Vislie (2014): Overdeterminacy and
endogenous cycles: Trygve Haavelmo’s business cycle model. Metroeconomica, Forthcoming.
doi:10.1111/meca.12049
[3] Anundsen, A. K. and E. R., Larsen. Strategic sequencing behavior among owner-occupiers:
The role played by sell-first movers in a housing recovery. Journal of European Real
Estate Research, 7 (3): 295–306.
doi:10.1108/JERER-01-2014-0004
[4] Anundsen, A.K., and E.S. Jansen (2013): Self-reinforcing effects between housing prices
and credit. Journal of Housing Economics, 22(3):192–212. doi:10.1016/j.jhe.2013.07.001
[5] Anundsen, A.K., T. S. H. Krogh, R. Nymoen and J. Vislie (2011): The Macroeconomics
of Trygve Haavelmo. Nordic Journal of Political Economy, 37–Article 2.
W ORKING PAPERS
[6] Anundsen, A. K. and K., Gerdrup and F., Hansen and K., Kragh-Sørensen (2014): Bubbles
and crises: The role of house prices and credit, Working Paper (2014-14), Norges Bank.
[7] Anundsen, A. K. and C., Heebøll (2014): Regional US house price formation: One size
fits all?, Working Paper (2014-8), Norges Bank.
[8] Anundsen, A.K. and C, Heebøll (2013): Supply restrictions, subprime lending and regional US house prices. Memorandum (2013-4), Department of Economics, University
of Oslo.
PAPERS IN
P REPARATION
Anundsen, A. K. and R., Nymoen: Did US consumers save for a rainy day before the Great
Recession?. Draft available upon request
Anundsen, A. K. and E. R., Larsen. The efficiency of housing markets: Does winning the
bidding imply losing the long-term return?. Work in progress
Anundsen, A. K.: Econometric methods for detecting imbalances in house prices: What
goes up must come down?. Preliminary draft
Anundsen, A. K. and E. S., Jansen. An automatized procedure for jointly forecasting housing prices and credit. Preliminary draft
Anundsen, A. K.: Was there a nationwide house price bubble in the US housing market in
the 2000s? Work in progress
Anundsen, A. K. and C. C., Heebøll. The ripple effect in regional US housing markets.
Work in progress
Anundsen, A. K. and C. C., Heebøll. A method for selecting optimal weights in a GVAR
model. Work in progress
B OOK C HAPTERS
[9] Anundsen, A. K. Contributor to two book chapters on exchange rate modeling in a book
project by Bernt Stigum, Forthcoming on MIT press.
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OTHER
P UBLICATIONS ( IN
N ORWEGIAN )
Anundsen, A.K., T. S. H. Krogh, R. Nymoen and J. Vislie. Haavelmos makromodeller:
Endogene konjunkturer og inflasjonsteori. Samfunnsøkonomen, (2011-9):32–43, 2011.
Anundsen, A. K. Forskermøtet - 2011. Samfunnsøkonomen, (2011/1):43-46, 2011.
Anundsen, A. K. Finanskrisen: Sett fra politikken, næringslivet og akademia. Samfunnsøkonomen,
(2010/2): 34–36, 2010.
Anundsen, A. K. Nobelprissymposium 2009: Til ære for Oliver Willamson. Samfunnsøkonomen,
(2010/1):40-42, 2010.
Anundsen, A. K. and Holmen, R. B. Samfunnsøkonomenes Frokostmøte: Fremtidige finansieringsproblemer og utdeling av prognoseprisen. Samfunnsøkonomen, (2009/9):38–40,
2009.
Anundsen, A. K. and Holmen, R. B. Samfunnsøkonomenes Høstkonferanse 2009: Norge
som oljenasjon, Samfunnsøkonomen, (2009/8):52–54, 2009.
M EDIA C OVERAGE
( IN N ORWEGIAN )
Ingen boligboble i Norge, Interview in Finansavisen, 14/03-2013, p. 20, 2013.
Byggebrems og boligbobler, Dagens Næringsliv , 04/04-2013, pp. 42–43, 2013.
Anundsen, A.K. and T. S. H. Krogh. Inflasjonsmål og ubalanser, Dagens Næringsliv, 16/042011, p. 35, 2011.
Anundsen, A.K. and E. S. Jansen. Pengespiralen. Dagens Næringsliv, 29/03, p. 3, 2011.
Bygg buffer mot boligkrise. Dagens Næringsliv, 17/10-2011, p.26, 2011.
C ONFERENCE
TALKS
Econometric regime shifts and the US subprime bubble: Central Bank Macroeconomic
Modeling Workshop: Modeling Imbalances in Warsaw, September 13–14, 2012; Workshop
on Empirical Methods in Macroeconomic Policy Analysis in Bucharest, May 16–17, 2013;
Financial Globalisation and Sustainable Finance: Implications for Policy and Practice in
Cape Town, May 29–31, 2013; 5th IFABS conference on “The Search for Financial Stability: Models, Policies and Prospects” in Nottingham, June 26–28, 2013; 28th European
Economic Association annual Congress in Gothenburg, August 26–30, 2013.
Self-reinforcing effects between housing prices and credit: Norwegian Economic Association’s Annual Research Conference in Bergen January 5–7, 2010; The Nordic Econometric
Meeting in Århus, May 27–29, 2011.
Supply restrictions, subprime lending and regional US house prices: 67th European
Meeting of the Econometric Society in Gothenburg, August 26–30, 2013; 17th World Congress
of the International Economic Association at the Dead Sea, June 6–10, 2014; 2014 North
American Summer Meeting of the Econometric Society in Minneapolis, June 19–22, 2014.
Regional US house price formation: One size fits all?: 13th OxMetrics User Conference
in Århus, September 5–6, 2013; The 36th meeting of the Norwegian Economic Association,
January 6–7, 2014; The 7th RGS Doctoral Conference in Economics in Dortmund, February
26–28, 2014; The 2014 Annual Conference of the Royal Economic Society in Manchester,
April 7–9, 2014; 1st annual conference of the International Association for Applied Econometrics in London, June 26–28, 2014; 68t h European Meeting of the Econometric Society.
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I NVITED TALKS
2014: Valutaseminaret 2014, Oslo; DnB Markets, Oslo.
2013: Various talks on the Norwegian and US housing market at Aktualitetsuka (for the
students at the University of Oslo); The seminar "Kommer vi i hus? - Om boligkrisa og de
unge, Oslo. Menon, Oslo. Presentations at: Statistics Norway (Various Workshops); Norges
Bank (Job Talk); University of Oslo (Research Seminar)
2012: Presentations at Statistics Norway (Various Workshops)
2011: Various talks on the Norwegian and US housing market at Finansco, Oslo; The Norwegian Ministry of Finance, Oslo. Presentations at Statistics Norway (Various Workshops)
G RANTS AND
STIPENDS
Stipend from Professor Wilhelm Keilhaus Minnefond (2011 and 2013)
Stipend from Norges Banks fond til økonomisk forskning (2011 and 2013)
S TUDENT
A DVISING
Mari Ranheim
Graduate student in Economics, University of Oslo.
Thesis title: Hva forklarer den ulike utviklingen i norske og danske boligpriser siden 2008?
En økonometrisk analyse av det norske og danske boligmarkedet
Year: 2014
Morten Haabeth Grindaker
Graduate student in Economics, University of Oslo.
Thesis title: The impact of household leverage on mortgage foreclosures in Norway: A
threat to stability?
Year: 2013
Other: Awarded the best master thesis of the year in macroeconomics, University of Oslo
T EACHING
E XPERIENCE
Teaching full day seminars in macroeconomics for persons qualifying to become financial
advisers, 2013 –
Seminar leader and responsible for computer class in ECON 4160: Econometrics - Modeling and system estimation (advanced master course), Fall 2014, Fall 2013 and Fall 2012
• Graduate-level course in econometrics at University of Oslo, Department of Economics,
see also here
Lecturer in ECON 1310: Macroeconomic Theory and Policy, Fall 2012 and Spring 2013
• Undergraduate-level course in macroeconomics at University of Oslo, Department of
Economics, see also here
Seminar leader in ECON 1310: Macroeconomic Theory and Policy, Spring 2010, Spring
2008, Fall 2007
• Undergraduate-level course in macroeconomics at University of Oslo, Department of
Economics, see also here
Seminar leader in ECON 2310: Macroeconomic Analysis, Fall 2009
• Undergraduate-level course in macroeconomics at University of Oslo, Department of
Economics, see also here
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P ROFESSIONAL
S ERVICE
L ANGUAGES
Referee Service
• Economic Journal (1), Energy policy (1), Journal of Banking and Finance (1)
Norwegian: Mother tongue
English: Fluent
German: Basic conversation and good understanding
Danish and Swedish: Perfect understanding
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