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Estimating and Projecting Potential Output Using CBO’s Forecasting Growth Model: Working Paper 2018-03

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  • Robert Shackleton

Abstract

As part of its responsibility for producing baseline projections of the economy and the federal budget, CBO regularly produces estimates and projections of potential output, a measure of the economy’s fundamental ability to supply goods and services. The projection of potential output serves as a key input to CBO’s macroeconomic forecasts and budget projections, helping the agency maintain consistency between its projections of labor supply and capital accumulation and its projections of taxes on income from labor and capital, of federal expenditures, and of the

Suggested Citation

  • Robert Shackleton, 2018. "Estimating and Projecting Potential Output Using CBO’s Forecasting Growth Model: Working Paper 2018-03," Working Papers 53558, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:53558
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    File URL: https://www.cbo.gov/system/files/115th-congress-2017-2018/workingpaper/53558-cbosforecastinggrowthmodel-workingpaper.pdf
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    More about this item

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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