Constâncio discusses possible changes to new ECB model
Economists at the European Central Bank are pleased with its new economic model, but will be looking to make further changes to it as economic theory develops, Vítor Constâncio has said.
The ECB multi-country model (ECB-MC) made improvements to the modelling of aggregate consumption and expectations, the vice-president of the ECB told an audience in Frankfurt on September 25. But research in both fields was moving fast, and the ECB would be prepared to incorporate new findings in later
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