Pagan Report on the Bank of England's Model

REPORT - The Pagan Report on Modelling and Forecasting at the Bank of England, 30 January. Professor Pagan concludes that the model does not represent the 'state of the art'. But he also concludes that the deficiencies of the model have not detracted from the accuracy of the MPC's forecasts. The report acknowledges that judgements by the staff and the MPC have played a crucial role in generating the projections.

The Pagan Report

Bank's Response to the Pagan Report

Bank of England Press Release

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