Sources of data

Data related to balance of payment such as import, export and trade balance used here are obtained from Statistics Norway. Consumer price index is also obtained from the same source. Interest rate variable related to Norway are obtained from Norges’ Bank and the key interest rate for euro zone is obtained from Euro Bank while the oil spot price is obtained from US Energy information system. The average monthly spot price for Brent oil was on Dollar per Barrel unit which was converted into NOK using NOK per USD exchange rate for that month.