The Bank of England Quarterly Model

The Bank of England is today publishing a book - The Bank of England Quarterly Model - which contains details of the new macroeconomic model developed for use in preparing the Monetary Policy Committee's (MPC) quarterly economic projections, together with a commentary on the motivation for developing the new model and the economic and modelling approaches underlying it.
Published on 31 January 2005

An overview of the new model was initially published in April 2004 (reprinted in the Summer 2004 Quarterly Bulletin). The book discusses the model in more detail and illustrates the overall model properties with the results from some stylised simulations. A number of appendices give details of model equations, data sources and parameter values.

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