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Summaries of the concepts changed in the baseline forecast follow. The attached document provides details of the equation respecifications for existing series. The corresponding alternative scenarios are similarly affected.
Equation changes
•National accounts rebasings (Germany, Norway, Estonia)
•New historical/forecast series for Laos lending rate
•Adjustments made to government blocks to ensure greater consistency between government debt and government balance (all countries)
•New equations for European house prices to create more significant shocks in scenarios by using FHPI_I_IEUZN as a key driver
•Euro zone interest rates adjusted to keep greater consistency with German rates
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