5 These examples show that not in all cases a singlemodel approach is followed, but rather a ‘suite-of-models’ approach. 2.2  Arguments in favour of the suite-of-models approach  What are the reasons for central banks following these multi-model approaches? Why is it important to apply a variety of models in central banks rather than only a few, especially for forecasting?
2  See the overview article Clements and Hendry (2005), Guest Editors’ Introduction: Information in Economic Forecasting, Oxford Bulletin of Economics and Statistics 67, issue s1, p. 714. 3  See Issing (2004), p. 730. 4  See Kapetanios, Labhard, and Price (2005). 5  See Adolfson, Andersson, Lindé, Villani, and Vredin (2005).