Sarb’s Mminele on application of economic models in policy-making
Daniel Mminele, a deputy governor of the South African Reserve Bank, on Friday said models used by central banks to produce forecasts must be more dynamic and able to change to reflect different circumstances.
At an event in Johannesburg, South Africa, Mminele said: "The inflexibility of a model's fixed relationships help us to assess whether today's actual outcomes will continue in the future or adjust in line with the historical relationships reflected in the model. As real-world outcomes
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