The system in more detail

References:

• Gerdrup, K.R. and J. Nicolaisen (2011): "On the purpose of models - The Norges Bank experience", Staff Memo 6/2011, Norges Bank
• Bache, I. W., L. Brubakk, A.S. Jore, J. Maih and J. Nicolaisen (2010): “Monetary policy analysis in practice – a conditional forecasting approach”, Staff Memo 8/2010, Norges Bank