| Author (Corporate) | European Central Bank |
|---|---|
| Publisher | EC |
| Publication Date | June 2009 |
| Content Type | Report |
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The Eurosystem staff macroeconomic projections are produced jointly by experts from the ECB and the euro area NCBs. They are a biannual input into the Governing Council’s assessment of economic developments and the risks to price stability. More information on the procedures and techniques used is given in “A guide to Eurosystem staff macroeconomic projection exercises”, ECB, June 2001, which is available on the ECB’s website. To reflect the uncertainty surrounding the projections, ranges are used to present the results for each variable. The ranges for each variable and each horizon correspond to a model-based 75% probability interval. The method used is documented in “New procedure for constructing ECB staff projection ranges”, ECB, September 2008, also available on the ECB’s website. In view of the prevailing exceptional economic and financial circumstances, the uncertainty surrounding the projections is larger than usual at the current juncture. |
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| Source Link | http://www.ecb.int/pub/pdf/other/eurosystemstaffprojections200906en.pdf |
| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
