BEQMBank of England Quarterly Model
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The BEQM model and such sources as the Bank of England Inflation Report use a slightly narrower definition of investment than we use in our analysis.
The motivation for the BEQM project was to help with the intellectual framework role of the forecast.
BEQM is a large-scale model by the standards of most academic research, but it is small scale compared with traditional macro-econometric models.
BEQM has features that allow us to accommodate such questions when we are forecasting--but in a more ad hoc way that requires a substantial degree of judgement.
Similar results emerge from the simulations conducted by the Bank on BEQM.
This suggests that the exchange rate channel is also important in BEQM.