A Simplified Model of How Macroeconomic Changes Affect the Federal Budget: Working Paper 2020-01
Jaeger Nelson (),
Dan Ready and
John Seliski ()
No 55884, Working Papers from Congressional Budget Office
The budgetary feedback model (BFM) is one tool that CBO uses to estimate how changes in the macroeconomy might affect the federal budget. The BFM approximates the budgetary feedback that would be arrived at by using a wider array of CBO's budgetary models and was built to provide a unified framework to quantify changes in projected revenues and outlays relative to CBO's baseline budget projections. This paper describes how the BFM is constructed, how it is used in CBO's dynamic analyses, and the model's limitations.
JEL-codes: E17 H20 H50 H68 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cbo:wpaper:55884
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