Groen, Jan J.J.; Kapetanios, George; Price, Simon - In: International Journal of Forecasting 25 (2009) 1, pp. 74-80
We compare the Bank of England's Inflation Report quarterly forecasts for growth and inflation to real-time benchmark forecasts. The results reveal the well-known difficulty of forecasting in a stable macroeconomic environment, and the Inflation Report forecasts of GDP growth are generally...