Abstract:
We welcome the 80-page report on modelling and forecasting at the Bank of England by Ben Bernanke, which should mark a major change of course by the Bank. The language of the report is diplomatic, but does expose some deep-seated failings, to which we will add a few more.
Citation:
Hendry, D. & Muellbauer, J.N.J. (2024), A Review of the Bernanke Report on Economic Forecasting at the Bank of England, in Aikman, D. & Barwell, R. (Eds), 'The Bernanke Review: Responses from Bank of England Watchers', King's Business School, https://www.kcl.ac.uk/business/assets/pdf/qcgbf-working-papers/the-bernanke-review-into-the-bank-of-england's-forecast-process-responses-from-bank-of-england-watchers.pdf