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Title
Adaptive forecasting in the presence of recent and ongoing structural change.
Abstract
A summary of the research paper "Working Paper No. 490" written by bankers Simon Price, George Kapetanios, and Liudas Giraitis for the central bank of Great Britain, the Bank of England is presented. Topics discussed include the importance of published forecasts in communicating economic and monetary policies, common causes of forecasting failures, and downweighting past data as a significant factor for forecasters.