Most institutions use time-series models for forecasting

Use of models differs across jurisdictions by income size

Central banks use a wide range of tools for economic simulation, research and forecasting, but the Economics Benchmarks 2022 finds that time-series models are the most-used technique.

The vast majority of respondents – 27 (87.1%) of 31 institutions – said they use time-series models for forecasting. At 77.4%, 24 institutions use the same model type for research.

For scenario analysis, central banks favoured the semi-structural model. Fifteen (48.4%) respondents chose this option. The year’s

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