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The Congressional Budget Office’s Small-Scale Policy Model: Working Paper 2022-08

Mark Lasky

No 57254, Working Papers from Congressional Budget Office

Abstract: The Congressional Budget Office’s small-scale policy model (CBOSS) combines features of two existing models used to analyze fiscal policy into a single workhorse model. Currently, the multipliers model focuses on short-term demand effects, whereas the policy growth model focuses on long-run equilibrium effects. Unlike the two-model approach, CBOSS passes short-run effects through to the long run. CBOSS uses interest rates as a transmission mechanism for the “crowding out†of investment. The model also consistently treats the effects of policy in both the short and long run

JEL-codes: E20 E62 H30 (search for similar items in EconPapers)
Date: 2022-09-22
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