30 years of forecasting: have central banks learned anything?

Big data

Central banks have long been in the forecasting game. Work on some of the first large-scale central bank models started in the 1960s at the US Federal Reserve, which sought to develop models of the economy to support policy-making. But for as long as the models have existed, they have been criticised for failing to capture important facets of the way economies work, both in theory and in practice.

The advent of inflation targeting as a central bank mandate, first laid down in legislation in

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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

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 here: