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Shocks and the economic outlook

Author

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  • Kenneth Beauchemin

Abstract

The U.S. economy has recently been hit by a number of supply shocks, and businesses and consumers have seen oil, food, and materials prices rise as a result. Such shocks typically take several years to play themselves out completely. I apply a downsized version of a macroeconomic forecasting model in use at the Cleveland Fed to project the likely quantitative impact of the shocks on GDP growth and consumer prices.

Suggested Citation

  • Kenneth Beauchemin, 2011. "Shocks and the economic outlook," Economic Commentary, Federal Reserve Bank of Cleveland, issue June.
    • Handle: RePEc:fip:fedcec:y:2011:i:june13:n:2011-10
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    Cited by:

    1. Todd E. Clark, 2012. "Policy rules in macroeconomic forecasting models," Economic Commentary, Federal Reserve Bank of Cleveland, issue Oct.
    2. Saeed Zaman, 2013. "Improving inflation forecasts in the medium to long term," Economic Commentary, Federal Reserve Bank of Cleveland, issue Nov.
    3. Todd E. Clark & Saeed Zaman, 2011. "Food and energy price shocks: what other prices are affected?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Aug.

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    Keywords

    Forecasting;

    Statistics

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