The European Forecasting Network (EFN) aimed at analysing the functioning of the European Monetary Union.

It was launched in 2001 under the auspices of the European Commission, and from 2008 to 2018 was based the Robert Schuman Centre for Advance Studies, under the leadership of Prof. Massimiliano Marcellino.

The project produced quarterly reports that provided:

 

• an overview and critical analysis of the economic situation in the Euro area at that time
• short-term forecasts of the main macroeconomic and financial variables
• an analysis of the policy implications of the forecasts
• a large-scale multi-country evaluation of the economic effects of the policies  
• in-depth study of topics of particular relevance for the working of the European Monetary Union.

In the framework of the project, the EUI organised since 2001 the ‘EUInomics’ workshops, providing a forum for discussion among academics and economists in public and private institutions about the current and expected global economic conditions, with a special focus on the euro area and its member countries.

The EFN combined the economic expertise of Departments of Economics (Bocconi, Carlos III, the European University Institute, University of Cambridge), the quantitative skills of Departments of Statistics and Econometrics (University of Barcelona, Carlos III and Erasmus University), and the practical experience of research centres (CEPII and the Halle Institute for Economic Research).