Bank of England: time for fourth-generation forecasting tools?
Economists suggest ways to improve BoE’s framework ahead of Bernanke’s report
The Bank of England’s (BoE) monetary policy committee (MPC) has operated under three different modelling frameworks since it came into being in 1997. Former Federal Reserve chair Ben Bernanke could usher in a fourth when he reports back on April 12 about forecasting malfunctions at the BoE during the recent inflation surge.
Before Bernanke launches his report at Threadneedle Street, Central Banking spoke to economists about some of the key considerations he is likely to address. Some argue major
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