Purely statistical forecasting methods based on multiple indicators have been developed by Stock and Watson (1999), among others. The Chicago Fed National Activity Index, an index of eighty-five economic indicators, is based on the Stock-Watson work and has been used to forecast both inflation and economic activity (Fisher, 2000; Evans, Liu, and Pham-Kanter, 2002). 4  BIS Review 34/2003  4. Inflation persistence.
After all: a stable financial system requires not just good rules but also highly qualified supervisors in order to enforce these standards. 3. The present  Let us now take a step forward – to the present. Where do we stand now, five years since the outset of the crisis?