KVARTS a quarterly model of the Norwegian economy

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 alsci play a significant role in the model structure. We present the model's main structure and basic theoretical properties, report selected estimation results for single equations, and give some experiences from simulation experiments performed on selected model blocks and by means of the complete model.