Economic forecasting paper

Topics: Economics, United States, United Kingdom Pages: 3 (736 words) Published: March 30, 2015


Economic Forecasting
Devadious Blackmon, Edward Pacheco, Na Yang, Spanisha Watts, Stephanie Costello ECO/372
12/15/2014
Jong Yi
Economic Forecasting
There are many different resources that can be used to gather historical economic data as well as economic forecasting data. Our team has put together a list of resources that could be used to gather both historical economic data and economic forecasting data. 1. Federal Reserve Economic Data

2. United States Department of Labor-Bureau of Labor statistics 3. National Bureau Economic Researchers
4. Congressional Budget Office
5. Global Market Information Database
6. U.S. Department of Commerce
7. Census Data
The Federal Reserve Data (FRED) provides thousands of series data in usable formats regarding money supply, interest rates, national income and prices just to name a few. The information is valuable because it helps us to understand how decisions and issues regarding income, output, savings, investment, balance of payments and others affects our economy. It also provides the public with a resource to test economic forecasting models and analyze the decisions made by policymakers. The United States Department of Labor-Bureau of Labor Statistics (BLS) provides data that measures labor market activity, working conditions, and price changes in the economy (United States Department of Labor, 2014). The BLS also provides valuable empirical research housed in databases, tables and surveys that provide quantitative and qualitative factors that help businesses and the government forecast economic changes and growth. The National Bureau Economic Research (NBER) collects a wide range of data that consist of all the features of the pre WW1 as well as the interwar economies that were mainly involved in the United States, although it does include the United Kingdom, France, and Germany (The National Bureau of Economic Research, 2014). The historical economic data that may be founded under the NBER are:...

References: Bureau, U. S. (2014, December 12). About the Bureau. Retrieved December 12, 2014, from United States Census Bureau: http://www.census.gov/about/what.html
United States Department of Labor. (2014, December 13). About BLS. Retrieved from Bureau of Labor Statistics: http://stats.bls.gov/bls/infohome.htm
Library Economic Liberty. (1999-2008). Retrieved from http://www.econlib.org/library/sourcesUS.html
Colander, D. C. (2013). Economics (19th ed.). Retrieved from https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:48014779/context/co/view/activityDetails/activity/3a0a6f7c-d3b7-455f-9778-f6b7dd1b1094/expanded/False.
The National Bureau of Economic Research. (2014). Retrieved from http://www.nber.org/databases/macrohistory/contents/index.html#navDiv=4
Global Market Information Database (GMID). (n.d.). Retrieved from http://rdl.lib.uconn.edu/databases/1114
U.S. Data Sources. (1999-2008). Retrieved from http://www.econlib.org/library/sourcesUS.html
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