Banque de France paper explains new GDP forecast model
The Banque de France today put out a working paper introducing its new model for forecasting France's GDP, which sees the central bank move from a model based on factors to a model based on survey opinions.
The new Monthly Index of Business Activity (Miba) model will, as before, rely exclusively on data from the monthly business survey (EMC) conducted by the Banque de France. As well as the shift to survey responses, the new model will differ from its predecessor by explicitly targeting first
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