Front Matter Page
Research Department
Authorized for distribution by Charles Collyns
Contents
I. Introduction
II. Developing a Decision-Making Process
III. Benefits of a Successful IFT Regime
IV. Critical Path For Developing A Structured FPAS
V. The Quarterly Projection Exercise
VI. The Core Model
VII. The Role of Models in the FPAS
VIII. On the Evolution and Development of the FPAS
Text Figures
1. The Role of Models in the Forecast Process
2. From Policy Issues to Policy Recommendations
3. How Several Models can be Combined to Impose Consistency
Appendix Figures
4. A Possible Reporting Structure
5. Links Between Different Databases
6. The Monetary Policy Transmission Mechanism
7. Inflation Expectations 10-Years-Ahead in the United Kingdom
Appendix Tables
1. Estimation of a Model with Model-Consistent Measures of Potential GDP
2. Notation: Time Periods Correspond to Calendar Quarters