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Utilization and Precision of the US Current Quarter Model

In: A Dynamic Use of Survey Data and High Frequency Model Forecasting

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  • Yuzo Kumasaka

Abstract

Professor Lawrence R. Klein originally developed the current quarter model (CQM) in the late 1980s as a complement to the traditional quarterly macroeconomic model. Although the traditional quarterly macroeconomic model is useful for policymakers and economists when it comes to putting together economic forecasts and simulation studies for short- and medium-term (1–3 years), it is not adequate for grasping current economic conditions. Understanding what is happening now in the economy is very important not only for policymakers and economists but also for investors and business managers at any time. For example, they all want to know what the economy is doing in the current quarter — how quickly the economy is recovering, how fast it is slowing down, and when it is bottoming out…

Suggested Citation

  • Yuzo Kumasaka, 2018. "Utilization and Precision of the US Current Quarter Model," World Scientific Book Chapters, in: Yoshihisa Inada (ed.), A Dynamic Use of Survey Data and High Frequency Model Forecasting, chapter 3, pages 41-62, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813232372_0003
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    More about this item

    Keywords

    Current Quarter Model; High Frequency Model; Lawrence R Klein; Gross Regional Products; Forecasting;
    All these keywords.

    JEL classification:

    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies

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