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Using probit models of downturn risk to calibrate GDP Fan charts for New Zealand

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Organisation for Economic Co-operation and Development2026-04-11 收录
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https://www.oecd.org/en/publications/using-probit-models-of-downturn-risk-to-calibrate-gdp-fan-charts-for-new-zealand_aa823471-en.html
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Macroeconomic forecasters typically forecast fewer recessions than the number experienced, which means economic growth tends to be over-predicted on average. Consequently, forecast errors are not normally distributed, making it difficult to convey the uncertainty and risks based on the historical forecast track record. To characterise this risk,...
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