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Forecasting in an Uncertain Economic Environment
[La prévision dans un environnement économique incertain]

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  • Florens Odendahl

Abstract

If we consider that future economic outcomes are inherently uncertain, this gives rise to the notion of economic risk. For instance, what is the probability of a contraction in future GDP growth? Extending this idea to the case of several variables, we can address questions about the joint development of risks to GDP growth and inflation, for example. Considérer les résultats économiques futurs comme intrinsèquement incertains donne lieu à la notion de risque économique. Par exemple, quelle est la probabilité d’une baisse de la croissance future du PIB ? En élargissant ce concept à l’analyse de plusieurs variables, on peut, par exemple, s’interroger sur l’évolution conjointe des risques pour la croissance du PIB et l’inflation.

Suggested Citation

  • Florens Odendahl, 2019. "Forecasting in an Uncertain Economic Environment [La prévision dans un environnement économique incertain]," Eco Notepad (in progress) 120, Banque de France.
  • Handle: RePEc:bfr:econot:120
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