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Venue

Webex
14:30-16:30 CET

Format

online

Date

Tuesday, June 4, 2024

In cooperation with

Central banks have recently come under substantial criticism for not having forecast the strong surge of inflation following covid and Russia’s war against Ukraine. This online workshop will bring together top experts from the ECB and the Bank of England to, first, provide an overview of these two central banks’ forecasting and monetary policy simulation toolboxes, including modifications and additions implemented over the past years in reply to recent shocks. Second, it will summarize the findings of the “Bernanke review” and the Bank of England’s thoughts and lessons from this report. Third, two international experts will offer their own comments on the ECB’s and Bank of England’s macroeconomic forecasting and monetary policy evaluation modelling toolbox. Participants will have ample room to ask questions.

Program committee: Ernest Gnan (SUERF), Matthieu Darracq-Paries (ECB), Juha Kilponen (Bank of Finland) and Alessandro Notarpietro, Bank of Italy (Bank of Italy)

Program

Time
Tuesday, 4 June 2024
14:30
Macroeconomic models for forecasting and policy analysis: state of play - appraisal - way forward
Moderation by Juha Kilponen, Bank of Finland

ECB macroeconometric models for forecasting and policy analysis: Development, current practices and prospective challenges

Matteo Ciccarelli, Matthieu Darracq Pariès, Romanos Prifitis, ECB
15:30
Macroeconomic models for forecasting and policy analysis: Comments and discussion
Moderation by Alessandro Notarpietro, Bank of Italy
Jesper Linde, IMF
Martin Weale, King's College London
16:30
End