U.S. official forecasts of Group of Seven economic performance, 1976-90

James Bullard, William G. Dewald and Michael Ulan

No 1994-030, Working Papers from Federal Reserve Bank of St. Louis

Abstract: In this paper, we evaluate the accuracy of the U.S. Treasury Department forecasts of real growth and inflation from 1976 to 1990 for the Group of Seven (G-7) economies. The accuracy of these forecasts is measured against the standard of actual real world growth and inflation as subsequently published in the Treasury's World Economic Outlook (WEO). The primary comparison is to forecasts made by the OECD for each of the G-7 nations, but for the United States and Canada, we compare the forecasts to those made by the Blue Chip consensus and the Federal Reserve 'Greenbook'.

Keywords: Group of Seven countries; Inflation (Finance) (search for similar items in EconPapers)
Date: 1994
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Published in Federal Reserve Bank of St. Louis Review, March/April 1995, 72(2)

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DOI: 10.20955/wp.1994.030

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