Sunday, June 21, 2015

Forecasts from the new Bank of England blog

I was excited to see new forecasting from the new Bank of England blog (H/T to Simon Wren-Lewis), but unfortunately (for me) the result is completely consistent with the information equilibrium model. Since they agree and future data will not help decide between them, I thought it wasn't worth the effort of digitizing the graph and combining the data properly. Therefore I did a cheesy graphical plot overlaid on the results from here:


I used the second scenario where ELB was set at 0.5%, but it largely doesn't matter which one is used.

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Also, try to avoid the use of dollar signs as they interfere with my setup of mathjax. I left it set up that way because I think this is funny for an economics blog. You can use € or £ instead.