Economics Benchmarks 2024 report – making models work
The benchmarks this year include more granular details on key model design features
View a printable version of this report in PDF format
The past year has seen major reviews of central bank modelling frameworks, most famously the review into the Bank of England’s (BoE) forecasts by former Federal Reserve chair Ben Bernanke. The Czech National Bank (CNB) also carried out a significant review of its framework. In both cases, the reviews found the existing models wanting, and called for a range of improvements, to both model governance and design features.
On governance, Bernanke
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