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Uncertainty is inherent to forecasting and assessing the uncertainty surrounding a point forecast is as important as the forecast itself.
The forecasting uncertainty around point macroeconomic forecasts is usually measured by the historical performance of the forecasting model, using measures such as root mean squared forecasting errors (RMSE).
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This document describes in detail the OECD Economic Outlook database. It provides the codes and descriptions of all variables, the country codes used, and the definitions of and relations between the variables. It is supplementary to the Sources and Methods of the Economic Outlook.
It is high time to Go Structural, said A. Gurría at the launch of the OECD Economic Outlook. Structural reforms are not only the short-term remedy left, but they also offer multiple dividends: they can help us unleash productivity, develop new sources of growth and rebuild confidence.
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This chapter considers long-term prospects and risks for the world economy.
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The global economy is recovering, but confidence is extremely uneven across different regions, according to the OECD’s latest Economic Outlook. European governments must take greater action to ensure that the crisis in the euro area does not derail the recovery.
Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges.
Norway’s economy was protected from the worst of the 2008-09 crisis and should escape relatively unscathed from the euro area turmoil. This Survey discusses policies to promote sustainable growth and labour participation, and improve public spending and the tax system.
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Overview - Economic Survey of Norway 2012