Advanced economies draw on wider range of models

DSGE models and newer techniques more common at advanced economy central banks

Central banks in advanced economies are more likely to use a wide range of economic model types, while emerging markets tend to focus on a narrower sub-section.

Data from the Economics Benchmarks 2021 shows that, overall, semi-structural and time series models are the most common, with both model types used most commonly for forecasting. Other Central Banking benchmark data shows semi-structural models are the main model favoured by central banks for producing their headline forecasts.



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