What is the Windows analog of the Linux watch command?

I'm looking for a Windows program/script/command line function that works like Linux's watch program.

watch periodically calls another program/whatever and shows the result, which is great for refreshing an output file or similar every second:

watch cat my-output.txt

or, more powerfully:

watch grep "fail" my-output.txt

I've looked for it in cygwin's library, but it doesn't seem to be present.