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 New Policy Analysis Quarterly Econometric Model of the United States
A new quarterly econometric model of the United States economy is under construction that is specifically designed to support medium term economic policy analysis. The model is intended to be use to consider the various possible economic policies that could be pursued and their respective impacts. This approach contrasts with the historical tendency to create macroeconometric models for the US that are primarily designed to be used for short term economic forecasting. The new USQPAM model will feature a much higher degree of integration of the US National Income and Product Accounts and the Flow of Funds Accounts, made possible in part by the recent comprehensive revision of the NIPA by the US Bureau of Economic Analysis, as well as other related developments.
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