Tag: economy

Norway is Europe’s sixth most expensive country – here’s where it’s cheaper

Travelling to Sweden is still a smart money-saving move, Denmark remains noticeably more expensive than Norway, and Switzerland tops the list when it comes to costly food and goods.

The US national debt has now been downgraded by all agencies. What does that mean?

"It's a clear signal," a professor of economic history tells Science Norway. Washington deserves this, writes the Wall Street Journal.

How did the USA actually become so powerful?

ASK A RESEARCHER: The USA has long used its power to influence other countries. But how did they actually acquire this power?

"I understand that many find Trump terribly unsympathetic, but we will survive this"

People in Norway will have to wait even longer for cheaper mortgages. Vacations will be more expensive. But Trump's threats of tariffs will not have as much impact as many fear, professor believes.

Economist: Family food expenses in Norway have increased 33 per cent in three years

Food expenses for a Norwegian family with two children have increased more than twice as much as the price growth of other goods over the past three years, according to economists at Consumption Research Norway (SIFO).

How blockchain technology can effectively combat greenwashing

OPINION: By ensuring transparency, it could reduce the impact of greenwashing and support genuine practices.

The Norwegian Oil Fund is valued at 1.7 trillion USD – so why aren't taxes in Norway lower?

Researchers are questioning why all of the oil revenue is being utilised by the state.

How much do 15-year-olds know about finances?

Most teenagers learn about finances in school, but there are still significant differences in their knowledge levels.

Here, young adults may receive a trial basic income – the first such scheme in Norway

By providing a guaranteed minimum income to all young people under the age of 30 who are out of work or further education, the Norwegian Labour and Welfare Administration in this city hopes to encourage more people to enter the workforce. But will they bother to work then?

Should cabin owners in Norway pay extra tax?

Cabin construction is now the main reason for the development of much Norwegian mountain nature.

Why do people with little money make so many bad decisions?

Psychologist Ingvild Stjernen Tisløv says that people with payment problems need more professional help. This year, thousands of bank employees in Norway are being taught basic psychology.

How online games have become big business

Parents need to be vigilant, according to researcher.

How are we affected by financial stress?

Just the thought of an unexpected bill can make us function worse, researcher says.

Owning your own home in Norway has become 45 per cent more expensive in two years

For those who rent a home, expenses have remained almost stable.

OECD director: Norway can do better

More people are struggling financially in Norway. In many other European countries, the trend is similar. But for one group, the development is more dramatic in Norway than in other countries.

New poverty trend in Norway: Food banks face increased demand

More recipients of food aid have jobs, and over half are families with children, a survey shows. A new type of poverty is emerging in Norway.

Women with higher education know as little about personal finance as men with a primary school education

Women know significantly less about money, loans, and savings than men, according to a new study. The situation is worst among young women in their 20s. Researchers are concerned.

Is it worth pursuing employment if you can live off social security benefits?

Researchers have examined the finances of people in Norway who receive almost all of their income from the welfare state.

Adam Smith's ‘invisible hand’ is 300 years old

The father of economics, Adam Smith, changed the view of how values are created. But it is not self-interest and free markets that constitute the main message in Smith's work, professor believes.

Norway spends more on health per person than any other European country

Last year, Norwegians spent NOK 83,000 (about 7,430 USD) each on health.

The pay gap in Norway is getting bigger and bigger

The gap between the highest-paid jobs and the lowest-paid jobs has significantly increased over 25 years. Bonuses are one of the drivers of the pay differences.

How influencers pave the way for brands to reach potential customers

SHARE YOUR SCIENCE: Social media’s built-in functions of purchasing make it possible for influencers to give brands access to a loyal crowd of followers who trust them.

Increasingly high housing prices widen the gap in Norwegians' housing quality

People with low income and single parents have the worst housing conditions, according to a new report from Statistics Norway.

Which inequalities do people think are okay? Norway and China come out at opposite ends

Is a little inequality ok if it's a result of some people working harder than others? Researchers did a behavioral experiment and found that the answer to this depends on which country you live in.

Nearly three times as many Norwegians are now struggling financially

A new study from OsloMet concludes that many Norwegian households have tightened their belts.

The art of making a living: How to survive as an artist

Not giving up is more important than being the best. That was the advice Marius Johnsen received as a young art student. A new book deals with artistic life in Norway today.

What happens when an economic bubble bursts?

“The moment the market realizes that there will be no more optimists, then the bubble bursts,” says the economics professor.

Insurance is a foundation of modern society

When modern insurance arrived in the 18th century, houses and buildings suddenly became collateral for loans. This laid a foundation for modern society, says economics professor Knut Sogner.

Buying and selling credit is worth thousands of times as much as the ‘real’ economy

Credit is about ‘time’, ‘trust’ and ‘faith’, economic historians say.

No gifts, no society: “It's strange how little people know about why we give each other gifts.”

“The exchange of gifts is the glue that holds society together,” one researcher says.

Now we have documentation: Women earn less than men in the same job

Norwegian women earn 9 per cent less than men, even if they work in the same workplace, have the same occupation and the same job. Fifteen countries, including Norway, have been investigated in a large international study.

Researcher believes bitcoin may become as important as the internet

All the bitcoins in the world are worth no more than a third of the Norwegian Oil Fund. But researcher Svein Ølnes believes that the currency will take over the world.

What exactly are interest rates and where do they come from?

The sting from increased interest rates is something people have felt as early as ancient Mesopotamia.

Norwegian companies with English names make more money

Researchers have taken a closer look at what characteristics successful start-ups share.

Should Norway give away the billions of dollars made in profits from the war in Ukraine?

Never before has Norway made as much money from gas and oil exports as now.

Wait out the stock market crisis if you can, one professor says

“If you can afford it and have faith in the company, then it's just a matter of staying calm and waiting,” advises Professor Kjell Jørgensen.

“High inflation leads to savings”

Inflation is at the highest it’s been in a long time. Does that mean we should stop paying off our loans and let inflation take care of it?

Should we have let more companies go bankrupt during the pandemic?

Norway is an incredibly rich country, with large and powerful labour organisations that like to join forces to demand money from the state. But are we then able to adapt and become more efficient?

Can Norway make money from a tiny crustacean?

The ocean contains endless untapped food resources, such as seaweed, kelp, algae and krill. But it costs time and money to turn them into useful products. One company has now succeeded in exporting several thousand tonnes of krill for animal feed and nutritional supplements.

Children's school results are more related to parents' income than before

“This may indicate that kindergartens and schools in Norway are not able to even out social differences well enough,” researcher believes.

We accept tax evasions more during times of crisis - for low-income earners

Only two per cent of Norwegians accept that others evade taxes. But during the Covid pandemic, we had a greater understanding of low-income earners evading taxes to compensate for lost income.

Norwegians consume 25 per cent more than the average EU citizen - at some of the highest prices

Goods and services are 46 per cent more expensive in Norway than in the EU.

COVID-19 triggered the most severe economic crisis ever in the Nordic countries – but also the shortest

Researchers have studied the success of the Nordic countries in their economic management of the crisis.

Luck is important for new businesses

Entrepreneurs can have bad luck. Or they may be lucky. Researchers in Bergen are now seeing how decisive the effect of chance can be.

Why do people buy the equity funds that have the worst returns?

Economics researchers in Norway have come closer to an explanation to a major paradox.

When will the next economic crisis hit?

An important lesson from economic crises is that they are so distinct from each other.

New Norwegian debt register saves more people from the debt trap

Those who lend money must now make much better credit assessments, researchers find.

People who are unable to pay their debt are twice as likely to commit suicide

Social services should be acutely aware of the risk of suicide, according to professor.

Faster internet led to more stock trading

When Norwegians gained access to faster internet, their interest in mutual funds and stock trading also increased. Researchers call it a democratization of finance.

Struggling with debt you are unable to handle leads to poor mental health

Norwegians are one of the world's most indebted people, and now interest rates are rising. Researchers warn that problems with debt leads to poor mental health.

Does imposing women's quotas for corporate boards pay off?

Norway pioneered the way in demanding an increase in the proportion of women on Norwegian corporate boards nearly 20 years ago. Now California is following suit. So what lessons can be shared?

The Norwegian economy fared better in the pandemic than all its Nordic neighbours

The economic downturn in Norway during the pandemic year of 2020 was far less than that experienced by the other Nordic countries according to a new report.

People become more conservative by owning stocks

And they become more left-wing if they have a daughter.

Is green growth possible?

OPINION: Increases in economic growth contribute to one-for-one increases in carbon emissions. Energy system decarbonization and economic productivity gains are the most effective carbon emissions mitigation mechanisms for sustainable economic development.

Why is Russia's economy doing so poorly?

The elites' power and desire for money slows down economic growth.

Would more games between attractive teams increase attendance?

SHARE YOUR SCIENCE: Football authorities might have something to learn from economic theory.

People are ashamed of their consumer loans

But consumer loans are not the worst kind of loan you can have, researchers say.

Who your parents are matters more and more, even in the social democracy of Norway

The differences in wealth between Norwegians is now far greater than in several other European countries.

What are we willing to pay for sustainable alpine skiing?

SHARE YOUR SCIENCE: There is a limit when it comes to convenience.

The richest Norwegians pay the least taxes

Researchers now see that income inequality in Norway is much greater than official figures have shown.

The EU’s global response to Covid-19: The challenge of promoting ownership

An effective external response to Covid-19 by the EU must be rooted in the requirements and priorities of southern partners, argue Niels Keijzer and David Black.

Another brick in the wall: Covid-19 and the crisis of the liberal order

Covid-19 risks being another hit to the liberal world order, argues GLOBUS researcher Sonia Lucarelli.

Translating economic growth into sustainable development in Africa during Covid-19

EU aid policies in Africa must continue to address the broader challenge of African socio-economic development while dealing with the specific challenges of Covid-19, writes GLOBUS researcher Pundy Pillay.

Corona crisis packages may result in more layoffs than necessary, economists warn

Support for layoffs and cash grants may cause Norwegian companies to slow down more than necessary, says economics professor Ragnar Torvik. He thinks the crisis package measures for businesses should have been designed differently.

Norwegian financial crisis package may help stabilize the economy in the face of coronavirus shutdowns, says professor

The Norwegian government’s stringent measures against the coronavirus can affect house prices, wages and consumption. The situation could be just as serious for the Norwegian economy as the financial crisis in 2008 and the market crash after the peak in the 1990s, one economics professor says.

Travelling by bus, taxi and boat has become more expensive, while flying has become relatively cheaper

Planes are the passenger transport type that have had the lowest price increase in the last ten years, according to figures from Statistics Norway.

Christmas gift trends: Less jewellery, and ethical gifts not gaining ground

Despite society’s increasing focus on the environment, the tradition of giving each other gifts for Christmas remains deeply embedded in our culture. It’s still rare to give ethical Christmas presents. Granted, jewellery is less likely to glitter under the Christmas tree, while food and drink have become more popular as gifts.

Slightly more poor people in Norway

Norway’s proportion of low-income families and households is growing year by year.

Crushing the myth of “poor Norway”

The conventional wisdom about Norway in 1900 is wrong: Norway was among the richest countries in Europe, not the poorest, one professor explains.

These four types of cancer are more likely to be detected in highly educated people

Norwegian women and men who are highly educated are more likely to be diagnosed with four types of cancer. More sunbathing and postponed childbirth may be part of the explanation. It may also be because people with more resources are more likely to go to the doctor when they suspect something’s wrong.