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Full-Text Articles in Public Economics
Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore
Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore
Economics Faculty Publications
The Federal Reserve Bank of Philadelphia has conducted both the Survey of Professional Forecasters and the Livingston Survey for 20 years. Both surveys of private-sector forecasters provide researchers, central bankers, news media, and the public with detailed forecasts of major macroeconomic variables. The surveys have proved helpful for people who are planning for the future, and they have also provided useful input into the decisions of policymakers at the Federal Reserve and elsewhere. In this article, Dean Croushore provides an overview of the surveys and discusses the ways in which researchers have used the surveys.
The Livingston Survey: Still Useful After All These Years, Dean D. Croushore
The Livingston Survey: Still Useful After All These Years, Dean D. Croushore
Economics Faculty Publications
The decisions of households, firms, and government agencies depend on forecasts of the overall economy. Large firms and the federal government often have the resources to hire their own economists to provide forecasts. But households, small firms, and local governments often depend on surveys of forecasters to get their information. In this article, Dean Croushore spotlights the Livingston Survey, which, even after 50 years, still provides useful forecasts of the economy.