Time series model is top tool for forecasting and research

Use of machine learning models for research purposes surges year on year

Most central banks use time series modelling for forecasting and research. Semi-structural approaches, on the other hand, are preferred for scenario analysis, the Economics Benchmarks 2023 finds.

Among the suite of models listed for selection, 87.5% of 32 respondents say they utilise time series models for both forecasting and research. Of those mentioning scenario analysis, 81.3% say they apply semi-structural models.

Machine learning/artificial intelligence (ML/AI) and agent-based models

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account