Economic Outlook (OECD publication)
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Economic Outlook is a twice-yearly analysis (available for online viewing, download, and in print) published by the
Organisation for Economic Co-operation and Development The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organization, intergovernmental organisation with 38 member countries ...
(OECD) with economic analysis and forecasts for future economic performance of OECD countries. The main version is in English, and it is also published in
French French (french: français(e), link=no) may refer to: * Something of, from, or related to France ** French language, which originated in France, and its various dialects and accents ** French people, a nation and ethnic group identified with Franc ...
and
German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ger ...
. The OECD also publishes Monthly Economic Indicators (updated every month) to complement the twice-yearly Economic Outlook.


Reception


Academic research

Academics have looked at the projections and forecasting record of the OECD as well as the International Monetary Fund, in some cases comparing these to
consensus forecast Used in a number of sciences, ranging from econometrics to meteorology, consensus forecasts are predictions of the future that are created by combining together several separate forecasts which have often been created using different methodologies ...
s such as those published by Consensus Economics. A 2000 paper by
Jordi Pons Jordi () is the Catalan form of the ancient Greek name Georgios. Jordi is a popular name in Catalonia and is also given in the Netherlands and in Spanish-, English- and German-speaking countries. Jordi may also refer to: *Sant Jordi – patron s ...
of the University of Barcelona, Spain examined the accuracy and bias of the OECD Economic Outlook forecasts as well as the International Monetary Fund (IMF)
World Economic Outlook The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
forecasts. A 2001 paper by
Roy Batchelor Roy A. Batchelor (born 23 March 1947) is Professor Emeritus in Political Economy and Statistics iBayes Business School(formerlCassCity, University of London Educated at Allan Glen's School and Glasgow University, Roy worked as a government scie ...
of
City University Business School Bayes Business School, formerly known as Cass Business School, is the business school of City, University of London, located in St Luke's, just to the north of the City of London. It was established in 1966, and it is consistently ranked as on ...
, London compared the Consensus Forecasts with forecasts made by the International Monetary Fund (IMF) and the OECD. The study found: "With few exceptions, the private sector forecasts are less biased and more accurate in terms of mean absolute error and root mean square error. Formal tests show these differences are statistically significant for forecasts of real growth and production, less so for forecasts of inflation and unemployment. Overall, there appears little information in the OECD and IMF forecasts that could be used to reduce significantly the error in the private sector forecasts."


See also

* OECD Main Economic Indicators, a related monthly publication by the OECD * Economic forecasting *
World Economic Outlook The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
, a similar publication by the International Monetary Fund * ECB Survey of Professional Forecasters, a quarterly publication by the European Central Bank based on a survey of economists about the economy of Europe. * Survey of Professional Forecasters, a quarterly publication by the Federal Reserve Bank of Philadelphia based on a survey of economists about the economy of the United States. * Blue Chip Economic Indicators, a monthly publication by Aspen Publishers based on a survey of economists about the economy of the United States. * Consensus Economics, publisher of Consensus Forecasts, a monthly publication with macroeconomic forecasts of 85 countries based on a poll of 700 economists.


References


External links

* (main OECD website) * {{official website, http://www.oecd-ilibrary.org/economics/oecd-economic-outlook_16097408 (OECD iLibrary) Economic forecasting OECD