It shows just how much domestic knowledge there is in the issues raised by the #BernankeReview and I trust the Bank of England will draw on it when considering how to re-structure the forecast process.

National Institute of Economic and Social Research Economics Observatory Money Macro and Finance Society

🎩 David Aikman and richard barwell

Great to see the published chapters by my colleagues Jagjit S. Chadha and Margarida Morais

National Institute of Economic and Social Research
Stephen Millard
Stephen Millard
Larissa Marioni

'Ultimately, addressing regional skill mismatch can enhance #productivity , competitiveness and economic growth' 📈💡

In today's #MondayInterview , Deputy Director Adrian Pabst speaks with Larissa Marioni about skills mismatch and regional mobility ⬇️

hubs.la/Q02tzwqN0

#WeekendReading 💡

Director Jagjit S. Chadha takes stock of the Bernanke review of #BankofEngland forecasting 🏦 CentralBanking.com

'This review should be the start of a more profound discussion about how the bank needs to reform its internal practices'

hubs.la/Q02trdGN0

UK governments set constraints on how much they can borrow to fund public spending net of tax revenues, as well as total public debt relative to GDP; these targets are often adjusted in response to changing circumstances or priorities, Economics Observatory economicsobservatory.com/what-are-fisca…

With news of Israel’s strike on Iran tonight, it is unfortunately timely to revisit what we wrote late last year about the economic consequences of war between Israel and Hamas.

The spread into a wider conflict has come later than I expected but the consequences are profound.

#WeekendReading 💡

'That is a dreadfully large amount of money... It will be a constant drag upon the UK’s economy'

Read NIESR Visitor William Allen's piece for FT Alphaville on the costs of unwinding the British #QuantitativeEasing programme 📊

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Our congratulations to NIESR Governor Silvana Tenreyro, who has recently been named a Foreign Honorary Member for the American Economic Association 👏

AEA Information AEA Journals LSE Department of Economics Royal Economic Society

aeaweb.org/news/member-an…

Compelling analysis from Huw Dixon on likely inflation paths as the year progresses.

National Institute of Economic and Social Research Cardiff Business School

RES honours Tony Thirlwall, economist and Professor of Applied Economics at the University of Kent, who passed on 08 November 2023.

Read his obituary in the latest RES Quarterly Newsletter👉 bit.ly/3Q6cW7n

#obituary #Economics #EconTwitter

Following the #BernankeReview , Bank of England must use the opportunity not only to invest in modelling but also its culture, by promoting better internal and external articulation of risks.

Economics Observatory National Institute of Economic and Social Research
Economic and Social Research Council CamEcon Michael McMahon

centralbanking.com/central-banks/…

⚡️ NEW OP-ED CentralBanking.com ⚡️

Director Jagjit S. Chadha takes stock of Friday's Bernanke review of #BankofEngland forecasting 🏦

'This review should be the start of a more profound discussion about how the bank needs to reform its internal practices'

hubs.la/Q02sRL6K0

On Friday, Ben Bernanke's review of forecasting at the #BankofEngland was released ⚡️📈

In today's #MondayInterview , Freya Thomas spoke with Deputy Director Stephen Millard to get his thoughts on the review's recommendations and the BoE's response 🏦👇

hubs.la/Q02sRc4D0

This is a bumper year for elections, with over 60 countries going to the polls; economic researchers can play an important role in providing independent analysis & robust evidence to inform voters' decisions - my latest Economics Observatory newsletter economicsobservatory.com/looking-forwar…

Looking forward, looking back - new Economics Observatory newsletter from Romesh Vaitilingam with updates on Royal Economic Society Scottish Economic Society Economic History Society conferences #EconTwitter National Institute of Economic and Social Research buff.ly/3UeBTjj

Michael McMahon Bank of England One great mistake in inflation forecasting is including a constant in price equations - which will revert inflation to the average, which was very low pre-covid -
hence the under-forecasts
niesr.ac.uk/publications/w…
Jagjit S. Chadha

Ben Bernanke's review of forecasting at the #BankofEngland was delivered today ⚡️

Follow this thread for our Deputy Director Stephen Millard 's thoughts⬇️

1/10 🧵

Jagjit S. Chadha Bank of England #EconTwitter

Some further thoughts on the #BernankeReview in ⁦CentralBanking.com⁩. DSGE models enable policymakers to tell a consistent story around their forecasts and consider monetary policy strategy, as stressed by ⁦Francesca Monti⁩. ⁦National Institute of Economic and Social Research⁩ centralbanking.com/central-banks/…

The review of Bank of England's forecasting conducted by Ben Bernanke will be published tomorrow at noon. This thread contextualises why the review was necessary and why we welcome it. More reaction after tomorrow.

National Institute of Economic and Social Research Centre For Macroeconomics Money Macro and Finance Society

My colleague Stephen Millard makes the convincing case that an economic forecast that has three purposes neither helps decision-making at the Bank of England's #MPC nor the communication of risk by individual rate-setters.

CentralBanking.com National Institute of Economic and Social Research