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Global Model Workstation
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About the Global Model Workstation
Oxford Economics’ Global Model Workstation provides a rigorous and consistent structure for forecasting and testing scenarios. Because our economic and industry models are fully integrated and linked, it can be used to address questions on a wide range of economic topics such as the impact of oil price changes, or the effects of slower Chinese growth, and shows the impact on a global, regional, country, or industry level.
The modelling interface allows you to quickly build your own scenarios, then select and export data, compare series, and create charts and dashboards.
Global Economic Model
- The world’s leading globally integrated macro model, the Global Economic Model relied upon by over 150 leading organisations around the world. The model replicates the world economy by interlinking 80 countries, six regional blocs, and the Eurozone.
- Each month, our team of economists set underlying global assumptions and ensure that the data, forecasts, and formulas in the model are fully-up-to-date.
- With a 35-year track record, the model provides a rigorous and consistent structure for forecasting, scenario analysis, stress testing, and impact analysis.
Global Industry Model
- The world’s only globally integrated industry model links our industry forecasts to economic assumptions and projections from our economic model. This allows you to build shock scenarios and assess their impacts down to a sector level and compare them to our baseline.
- For each of the 69 economies in the model, we include 85 manufacturing industries and 15 service sectors. Our economists review industry forecasts from the model to ensure they are consistent with our global assumptions and country projections.
- Forecasts for output by industry are based on an input-output framework. It is built around quarterly data for 25 countries and annual data for 44 countries from 1980 and ahead 5, 10, or 25 years.
Complete scenario and forecasting tool
A suite of integrated tools for creating, benchmarking, and analysing forecasts and scenarios using our economic and industry models, the Global Model Workstation offers a single point of access for our full set of modelling tools. The software combines recent service innovations to allow you to launch the Model easily, access data created by your own assumptions and forecasts, and load pre-defined scenarios, all within a familiar and simple-to-use application.
- Combines core modelling, data selection and export, and access to scenarios in one simple interface.
- Presents data generated by your own model scenarios in an easy-to-use platform to simplify selection and comparison across countries, regions, and time periods.
- Leverages the latest technology and visualisation tools, including charts, graphs, and a mapping function to display trends across countries.
- Allows comparisons across multiple databases for assessment of the impacts of a number of alternate scenarios within the tool.
- Adds interactive features that allow you to easily sort and export data or images to Excel and presentation software, and works seamlessly with our Excel Data Workstation add-in.
Global Model Workstation components
View and download data
Create tables, charts, dashboards, and maps to analyse forecasts and scenarios.
Generate results tables
Quickly view forecasts and scenario data (economic model)
Predefined scenarios
Choose an alternative scenario and quantify its impact on the global economy (economic model)
Intuitive model interface to create scenarios and run the model
The Global Model Workstation features improved look and feel, menus, search, and signposting, and functions that make data selection and scenario-building faster and more intuitive.
Key features include the addition of popular changes, the ability to amend background assumptions, dashboard display, and switching between adaptive and forward-looking expectations:
- Popular changes. Quick links show changes most often implemented by users, to apply quick changes to shock the model.
- Menu-driven navigation and search. Select location, indicator, and key forecast drivers using a simple and intuitive menu path - or search by keywords or mnemonic.
- Compare series. Choose up to four series to compare on-screen at one time. The chart can be adjusted to show level values, percentage changes, and differences between time periods.
- Background assumptions. Test alternative assumptions such as monetary policy or whether the expectation formation is adaptive or forward-looking.
- Change log. Track changes so you can review each step of your assumptions before solving the model.
- Dashboards. Charts that compare the baseline forecast, scenarios, or custom forecasts.
- Solve options. While the model is solving a scenario, choose to view outputs as dashboards, forecast summary tables, or a new model database.