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National Institute Global Economic Outlook

2021 - 2025

From National Institute of Economic and Social Research
2 Dean Trench Street Smith Square London SW1P 3HE.
Contact information at EDIRC.

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2023, issue 12

Foreword pp. 3 Downloads
Stephen Millard
National Institute Global Economic Outlook – Summary pp. 4-6 Downloads
Niesr
Global Economic Outlook pp. 7-37 Downloads
Barry Naisbitt, Edmund Cornforth, Ian Hurst, Iana Liadze, Ahmet Kaya, Patricia Sánchez Juanino, Stephen Millard and Shama Bernard
Box A: The Fed Has Overtightened pp. 38-46 Downloads
Paul Mortimer-Lee
Box B: Expanding country models in NiGEM pp. 47-52 Downloads
Edmund Cornforth
Appendix A: Summary of key forecast assumptions pp. 53-61 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 62-71 Downloads
Iana Liadze

2023, issue 11

Foreword pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Summary pp. 4-6 Downloads
Niesr
Global Economic Outlook pp. 7-34 Downloads
Barry Naisbitt, Edmund Cornforth, Paula Bejarano Carbo, Ian Hurst, Iana Liadze, Xuxin Mao, Patricia Sánchez Juanino and Stephen Millard
Box A: Prospects for Emerging Central and Eastern European Economies pp. 35-40 Downloads
Jakub Rybacki
Box B: The Multilateral Context for European and Australian Economic Cooperation pp. 41-48 Downloads
Paul Gretton
Box C: Why Did US Inflation Forecasts Fail? pp. 49-58 Downloads
Paul Mortimer-Lee
NiGEM Topical Feature: Short-term Impact from a Rapid Increase in Carbon Taxes pp. 59-69 Downloads
Iana Liadze, Barry Naisbitt, Patricia Sanchez-Juanino and Stephen Millard
Appendix A: Summary of key forecast assumptions pp. 70-78 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 79-88 Downloads
Iana Liadze

2023, issue 10

Foreword pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Summary pp. 4-5 Downloads
Niesr
Global Economic Outlook pp. 6-26 Downloads
Barry Naisbitt, Edmund Cornforth, Paula Bejarano Carbo, Joanna Nowinska, Ian Hurst, Iana Liadze, Hailey Low, Xuxin Mao and Patricia Sánchez Juanino
Modelling the effects from slower trade growth: an exercise using NiGEM pp. 27-33 Downloads
Iana Liadze, Barry Naisbitt and Patricia Sanchez-Juanino
Appendix A: Summary of key forecast assumptions pp. 34-39 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 40-48 Downloads
Iana Liadze

2023, issue 9

Foreword pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Summary pp. 4-5 Downloads
Niesr
Global Economic Outlook pp. 6-34 Downloads
Barry Naisbitt, Edmund Cornforth, Paula Bejarano Carbo, Joanna Nowinska, Ian Hurst, Iana Liadze, Hailey Low, Xuxin Mao and Patricia Sánchez Juanino
Box A: The First World War: what it helps us to understand about Russia's invasion of Ukraine pp. 12-14 Downloads
Norma Cohen
Box B: Has headline inflation peaked in the G7 economies? pp. 21-27 Downloads
Barry Naisbitt and Joanna Nowinska
NiGEM Topical Feature: Modelling a secular slowdown in China: an exercise using NiGEM pp. 35-42 Downloads
Iana Liadze, Xuxin Mao, Barry Naisbitt and Patricia Sanchez-Juanino
Appendix A: Summary of key forecast assumptions pp. 43-48 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 49-58 Downloads
Iana Liadze

2022, issue 8

Foreword: Troubled Waters pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Summary pp. 4-5 Downloads
Niesr
Global Economic Outlook pp. 6-26 Downloads
Barry Naisbitt, Janine Boshoff, Edmund Cornforth, Paula Bejarano Carbo, Joanna Nowinska, Ian Hurst, Iana Liadze, Corrado Macchiarelli, Xuxin Mao and Patricia Sánchez Juanino
Box A: Rising concerns over increased global economic fragmentation pp. 27-30 Downloads
Barry Naisbitt
Box B: What is new in the NGFS scenarios? pp. 31-34 Downloads
Patricia Sanchez-Juanino
NiGEM Topical Feature: The deflationary effects of global monetary tightening – an examination using NiGEM pp. 35-43 Downloads
Iana Liadze, Corrado Macchiarelli, Barry Naisbitt and Patricia Sanchez-Juanino
Appendix A: Summary of key forecast assumptions pp. 44-49 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 50-58 Downloads
Iana Liadze

2022, issue 7

Foreword: Fraying at the Edges pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Fraying at the Edges – Summary pp. 4-5 Downloads
Niesr
Global Economic Outlook pp. 6-23 Downloads
Barry Naisbitt, Janine Boshoff, Ian Hurst, Iana Liadze, Corrado Macchiarelli, Xuxin Mao and Patricia Sánchez Juanino
Box A: The Euro Area's monetary-fiscal policy interactions after 2020: A new normal? pp. 24-27 Downloads
Corrado Macchiarelli, Renato Giacon and Anthony Bartzokas
Box B: The geopolitical consequences of Russia's invasion of Ukraine pp. 28-31 Downloads
Creon Butler
The global effects of an oil price shock in NiGEM pp. 32-39 Downloads
Iana Liadze, Corrado Macchiarelli, Patricia Sánchez Juanino and Barry Naisbitt
Appendix A: Summary of key forecast assumptions pp. 40-45 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 46-54 Downloads
Iana Liadze

2022, issue 6

Foreword: Walking the Line pp. 3 Downloads
Jagjit Chadha
National Institute Global Economic Outlook – Walking the Line – Summary pp. 4-5 Downloads
Niesr
Global Economic Outlook pp. 6-23 Downloads
Barry Naisbitt, Janine Boshoff, Ian Hurst, Iana Liadze, Corrado Macchiarelli, Xuxin Mao and Patricia Sánchez Juanino
Box A: China's slowdown is structural pp. 24-29 Downloads
Saul Eslake
Box B: War in Ukraine and the options for Europe's energy supply pp. 30-34 Downloads
Christopher Aitken and Erkal Ersoy
NiGEM Topical Feature: Re-evaluating the Economic Costs of the Russia-Ukraine Conflict in NiGEM pp. 35-45 Downloads
Iana Liadze, Corrado Macchiarelli and Patricia Sánchez Juanino
Appendix A: Summary of key forecast assumptions pp. 46-51 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 52-60 Downloads
Iana Liadze

2022, issue 5

Foreward: Picking up the pieces pp. 3 Downloads
Jagjit Chadha
Executive summary pp. 4 Downloads
Niesr
Inflation prompts policy normalisation pp. 5-20 Downloads
Barry Naisbitt, Janine Boshoff, Dawn Nicole Holland, Ian Hurst, Iana Liadze, Cyrille Lenoel, Corrado Macchiarelli, Xuxin Mao, Patricia Sánchez Juanino, Craig Thamotheram and Kemar Whyte
US Inflation: is it "Back to the Future"? pp. 21-27 Downloads
Paul Mortimer-Lee
Box B: Turkey's unorthodox monetary policy pp. 28-31 Downloads
Turalay Kenc
NiGEM Topical Feature: Monetary Policy Spillovers: the Euro Area and the United States in NiGEM pp. 32-37 Downloads
Iana Liadze, Barry Naisbitt, Corrado Macchiarelli and Patricia Sánchez Juanino
Appendix A: Summary of key forecast assumptions pp. 38-41 Downloads
Iana Liadze
Appendix B: Forecast detail pp. 42-49 Downloads
Iana Liadze
Page updated 2025-08-14