More than half of institutions favour semi-structural models

Just 35% of institutions include financial sector in key modelling

Most participating central banks in the Economics Benchmarks 2022 use semi-structural techniques as their key forecast model.

The most commonly used forecast models were dynamic stochastic general equilibrium (DSGE) and semi-structural models. Other options included no single key model, time series and “other” models. No institutions reported using dynamic factor models as their main model.

Of the 32 jurisdictions that answered the question, over half (53%) chose semi-structural models. The

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