Other publications may include books, quarterly reviews, annual reports and economic bulletins from the ECB, PhD theses and Danmarks Nationalbank’s policies.

Tools for Cyclical Assessment - Part 2

This article describes in detail the NARES model used by Danmarks Nationalbank for conjunctural analysis purposes. The model uses the available economic statistics for calculation of indicators of key national accounts components, such as private consumption, investment and exports. On the basis of these indicators, NARES makes it possible to compile approximate quarterly national accounts earlier than Statistics Denmark's first release of national accounts figures. The article also presents a number of alternative models for cyclical assessment purposes. One of these is used to construct an alternative estimate of GDP growth, and the results are compared with i. a. a technical application of NARES. All in all, the NARES model is regarded as a useful tool in the assessment of the current state of the economy and in preparing economic projections.