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The central bank of Norway manages a $700 billion fund – one of the biggest sovereign wealth funds in the world. The fund is invested in stocks and bonds in all major markets, and is now beginning to invest in US real estate. Norges Bank Governor Øystein Olsen will outline how the Norwegian monetary and fiscal policy framework is set up in order to manage the fund on behalf of current and future generations, while coping with shocks hitting a small open economy.