The Spring 2003 Quarterly Bulletin contained a report on modelling and forecasting at the Bank of England by Adrian Pagan. This article is a postscript to Professor Pagan’s original report, and covers the introduction of the Bank’s new macroeconomic model (the Bank of England Quarterly Model, or BEQM). The overall assessment is broadly positive, and the Bank would again like to thank Professor Pagan for the valuable insights that his report has provided.
Addendum to Report on modelling and forecasting at the Bank of England