Modelling and Forecasting at the Bank of England - The Pagan Report and the Bank's Response

The Bank is today publishing a report by Professor Adrian Pagan on the statistical and economic modelling and forecasting work carried out by the staff of the Bank for the Monetary Policy Committee (MPC), along with the Bank's response to the Report.
Published on 30 January 2003

The Bank's Court invited Professor Pagan to undertake a review and evaluate whether the Bank's modelling and forecasting work is 'state of the art'. In particular, he was asked to focus on the technical aspects of the modelling and forecasting process, rather than procedural and presentational issues. The Bank welcomes Professor Pagan's perceptive and insightful report.

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