The majority of central banks use time series models for research, but they are slightly more likely to utilise semi-structural modelling for forecasting, the Economics Benchmarks 20204 find.

Of the 34 respondents that answered this section, 91.2% say they use time series models for research purposes. For forecasting, however, 91.2% of central banks say they use semi-structural modelling and 88.2% use time series models.

The 2023 benchmark has a somewhat different result to this year’s benchmark