Economics, Econometrics and Finance
4 years ago

Global economic forecasts show room for improvement, raising concerns for future stability.

RePEc: Research Papers in Economics
An Evaluation of the World Economic Outlook Forecasts
Allan Timmermann

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The World Economic Outlook (WEO) forecasts were evaluated to see how well they predicted global economic conditions. The study looked at a wide range of countries, focusing on the recent recession and recovery. Tests showed that WEO forecasts were similar to Consensus forecasts in accuracy. While some WEO forecasts met quality standards, there were concerns about their overall performance.