Norwegian Aggregate Model (NAM) is a model that gives forecasts for the main macroeconomic variables of the Norwegian economy. You can see how well the model has done here.

NAM is a model project which extends from the early econometric assessment of wage- and price-inflation in Nymoen (1991), further developed in Bårdsen, Fisher, and Nymoen (1998), Bårdsen and Fisher (1999), and the monetary transmission model of Bårdsen and Klovland (2000).

Earlier versions of the model are documented in Bårdsen and Nymoen (2001), Bårdsen, Jansen, and Nymoen (2003), Bårdsen, Eitrheim, Jansen, and Nymoen (2005) and Bårdsen and Nymoen (2009). NAM is used for both research purposes and for teaching. The macroeconomic data is from the model databases of Statistics Norway (KVARTS model) and Norges Bank (FPAS database).

Specific versions of the model are currently operative for a) econometric forecasts of the Norwegian macroeconomy and, b), an extended version in use in Norges Bank for stress testing of financial stability.

References

Bårdsen, Gunnar and Ragnar Nymoen. 2009. "Macroeconometric modelling for policy", in Mills, T. C. and K.Patterson (eds.), Palgrave Handbook of Econometrics Vol. 2, ch. 17, 851-916, Palgrave-Macmillan.

 Bårdsen, Gunnar, Øyvind Eitrheim, Eilev S. Jansen, and Ragnar Nymoen. 2005. The Econometrics of Macroeconomic Modelling. Oxford: Oxford University Press.

Bårdsen, Gunnar and Paul Gregory Fisher. 1999. "Economic Theory and Econometric Dynamics in Modelling Wages and Prices in the United Kingdom." Empirical Economics, 24:3, pp. 483-507.

Bårdsen, Gunnar., Paul G. Fisher, and Ragnar Nymoen. 1998. "Business Cycles: Real Facts or Fallacies?" Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium: 499-527. Cambridge University Press: Cambridge.

Bårdsen, G., E. S. Jansen, and R. Nymoen. 2003. "Econometric Inflation Targeting." Econometrics Journal, 6:2, pp. 429-60.

Bårdsen, Gunnar and Jan Tore Klovland. 2000. "Shaken, or Stirred? Effects of Financial Deregulation on Money, Credit, and Output in Norway". The Scandinavian Journal of Economics, 102(4) 563--83, 2000.

Bårdsen, Gunnar and Ragnar Nymoen. 2001. "Rente og Inflasjon (Interest Rate and Inflation)." Norsk Økonomisk Tidsskrift, 115, pp. 125-48.

Nymoen, Ragnar. 1991. "A small linear model of wage- and price-inflation in the Norwegian economy." Journal of Applied Econometrics, 6, pp. 255-69.