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Synopsis

The first edition of this book became a valuable reference tool in the field of economic forecasting. This new edition takes into account what the profession has learnt during this century's first Great Recession, which so few foresaw. It also restructures the material to make it more user-friendly. Policy-relevant analyses have been expanded, providing key insights for macroeconomic management and supervisory authorities.

The book offers a comprehensive overview of macroeconomic forecasting. It presents a wide range of approaches, including business cycle analysis, time series methods, macroeconomic models, medium and long-run projections, and fiscal and financial forecasts. The book then explores the main issues surrounding the use of forecasts, including accuracy and communication challenges. All along, the economic policy implications are highlighted, together with a focus on their financial stability dimension. A tour of the economic data and forecasting institutions is also provided.

This book will be essential reading for economists and professional forecasters as well as students.

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