KVARTS - a quarterly model of the Norwegian economy |
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Institution: | 1. University of Oviedo, Department of Business, Av. Cristo S/N, 33006 Oviedo, Spain;2. University of Oviedo, Department of Accounting, Av. Cristo S/N, 33006 Oviedo, Spain;1. Norwegian Institute for Nature Research, Fakkelgården, Storhove, N-2624 Lillehammer, Norway;2. Norwegian Institute for Nature Research, PO Box 5685, Sluppen, 7485 Trondheim, Norway;3. Norwegian Institute for Nature Research, Gaustadalléen 21, 0349 Oslo, Norway;1. Department of Civil Engineering, Dalian University of Technology, Dalian 116024, China;2. State Key Laboratory of Coastal and Offshore Engineering, Dalian University of Technology, Dalian 116024, China |
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Abstract: | This paper presents the main characteristics of the first version of a quarterly 12 sector macroeconomic model of the Norwegian economy. The general purpose of the project is to obtain a framework for quantitative analysis of the short-term development of the economy. Quarterly national accounts data constitute a main data source, but short- term statistics outside the national accounting system also play a significant role in the model structure. The model's main structure and basic theoretical properties are presented, selected estimation results for single equations are reported and some experiences from simulation experiments performed on selected model blocks and by means of the complete model are given. |
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