Uses of National Economic Models by Federal Agencies

A survey was conducted to examine how federal agencies use large-scale economic models of the United States for formulating national economic policy. Two different questionnaires were used to obtain information on model usage. One questionnaire focused on operations level personnel who used national economic models, and the other focused on policy-level personnel involved in making economic policy decisions. The questionnaire focused on identifying agencies which use national economic forecasting models for economic policy formulation, budget determination, and program development; determining the federal expenditures for using national economic models and the number of employees using these tools; and ascertaining the extent to which forecast results influence economic policy decisions.