chapter investigates the use of economic forecasting in policy making by discussing practical examples, providing new … institutional details of the forecasting process at fiscal authorities and central banks. We provide empirical evidence that central … producing forecasts. We review forecasting models and provide practical applications. In particular, we illustrate how to use …

made in the first oil price shock of the 1970s. In response to the challenges encountered in forecasting in recent years … and the lessons learnt, the OECD and other international organisations have sought to improve their forecasting techniques …