The Asian Development Outlook (ADO) provides growth and inflation forecasts for more than 40 economies in the region. This paper assesses the accuracy of those forecasts against actual outcomes for the years from 2008 to 2011. The World Economic Outlook (WEO) forecasts by the International...

Chapter 1. Prologue -- Chapter 2. Trading: Humans Are Heterogeneous Animals -- Chapter 3. Forecasting: Humans Are Prone-To-Predicting Animals -- Chapter 4. Aggregating: Humans Are Social Animals -- Chapter 5. Innovating: Humans Are Ingenious Animals -- Chapter 6. Epilogue.

The primary purpose of the paper is to enable deeper insight into the measurement of economic forecast accuracy. The paper employs the systematic literature review as its research methodology. It is also the first systematic review of the measures of economic forecast accuracy conducted in...