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Chief Economists' Workshop: state-of-the-art modelling for central banks

Author

Listed:
  • Andy Blake

    (Bank of England)

  • Celine Gondat-Larralde

    (Bank of England)

Abstract

Since 2004 the Bank’s Centre for Central Banking Studies has organised an annual Chief Economists’ Workshop to provide a forum for leading central bank practitioners and academic thinkers to exchange views. The recent financial crisis has put many aspects of central banks’ activities under the spotlight, and this year’s Workshop offered a critical appraisal of the economic modelling frameworks used by central banks. Efforts are under way to build upon advances in research and improve those frameworks. But, at the same time, economists will need to remain humble about the inevitable limitations of their models, which will continue to be just one of many inputs to the policymaking process.

Suggested Citation

  • Andy Blake & Celine Gondat-Larralde, 2010. "Chief Economists' Workshop: state-of-the-art modelling for central banks," Bank of England Quarterly Bulletin, Bank of England, vol. 50(3), pages 214-218.
    • Handle: RePEc:boe:qbullt:0027
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    File URL: https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2010/chief-economists-workshop-state-of-the-art-modelling-central-banks.pdf?la=en&hash=AB6D79DBA8F5514B57D6D558942B5FA3E2B2AC04
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    References listed on IDEAS

    as
    1. David Aikman & Piergiorgio Alessandri & Bruno Eklund & Prasanna Gai & Sujit Kapadia & Elizabeth Martin & Nada Mora & Gabriel Sterne & Matthew Willison, 2011. "Funding Liquidity Risk in a Quantitative Model of Systemic Stability," Central Banking, Analysis, and Economic Policies Book Series, in: Rodrigo Alfaro (ed.),Financial Stability, Monetary Policy, and Central Banking, edition 1, volume 15, chapter 12, pages 371-410, Central Bank of Chile.
    2. Vasco Cúrdia & Michael Woodford, 2010. "Credit Spreads and Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 3-35, September.
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    Cited by:

    1. Garreth Rule, 2012. "Collateral management in central bank policy operations," Handbooks, Centre for Central Banking Studies, Bank of England, number 31, April.
    2. Garreth Rule, 2011. "Issuing central bank securities," Handbooks, Centre for Central Banking Studies, Bank of England, number 30, April.

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