We investigate the directional accuracy of GDP and price forecasts by the Japanese government and the IMF with a new method developed by Pesaran and Timmermann [Pesaran, M.H., Timmermann, A., 2009. Testing dependence among serially correlated multi-category variables. Journal of the American...

We investigate the directional accuracy of GDP and price forecasts by the Japanese government and the IMF with a new method developed by Pesaran and Timmermann [Pesaran, M.H., Timmermann, A., 2009. Testing dependence among serially correlated multi-category variables. Journal of the American...

This study assesses World Bank (WB) forecasts for growth in real gross domestic product (GDP) and its subcomponents during the global financial crisis of 2008 and the consequent Great Recession in 2009. Several have examined macroeconomic forecasts for advanced economies conducted by...

In this study, the performance and rationality of the gross domestic product growth forecasts by the World Bank (WB) for six regional aggregates and 130 individual countries between 1999 and 2019 are assessed. A large body of literature examines macroeconomic forecasts for advanced economies by...

This study assesses the performance of the GDP growth forecasts by European Bank for Reconstruction and Development (EBRD) for 38 countries between 1994 and 2019. It presents the following results. First, forecast performances improve over time. Second, the projections are mostly conservative,...