Macroeconomic Analysis

2010

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From July 2010 Through September 2010
November 24, 2010 pdfblog post

CBO's Projections of Federal Receipts and Expenditures in the Framework of the National Income and Product Accounts
October 2010pdf

The Economic Outlook and Fiscal Policy Choices
September 28, 2010pdfchartsblog post
Testimony before the Committee on the Budget, United States Senate

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From April 2010 Through June 2010
August 2010pdfblog post

Federal Debt and the Risk of a Fiscal Crisis
July 27, 2010pdfblog post
Economic and Budget Issue Brief

Related:

CBO's Economic Forecasting Record: 2010 Update
July 2010pdf

The Effects of Automatic Stabilizers on the Federal Budget
May 2010pdfadditional info

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from January 2010 Through March 2010
May 2010pdfblog post

The Economic and Budget Outlook
May 2010pdfblog post
Presentation by CBO Director Doug Elmendorf to the 35th Annual AAAS Forum on Science and Technology Policy

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
May 2010pdf

Losing a Job During a Recession
April 22, 2010pdfblog post
Economic and Budget Issue Brief

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From October 2009 Through December 2009
February 2010pdfblog post

Policies for Increasing Economic Growth and Employment in the Short Term
February 23, 2010htmlpdfchartsblog post
Testimony prepared for the Joint Economic Committee, U.S. Congress

Information on Reducing Payroll Taxes to Encourage Employment
February 3, 2010pdfblog post
Letter to the Honorable Robert P. Casey Jr.

The Individual Alternative Minimum Tax
January 15, 2010pdfblog post
Economic and Budget Issue Brief

Policies for Increasing Economic Growth and Employment in 2010 and 2011
January 2010pdfblog post

Related:
 

2009

Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output as of September 2009
November 2009htmlpdfblog post

The Economic Effects of Legislation to Reduce Greenhouse-Gas Emissions
October 14, 2009pdfblog post
Testimony before the Committee on Energy and Natural Resources, United States Senate

Background Paper: How Slower Growth in the Labor Force Could Affect the Return on Capital
October 2009pdfblog post

The Economic Effects of Legislation to Reduce Greenhouse-Gas Emissions
September 2009pdfblog post

Background Paper: Will the Demand for Assets Fall When the Baby Boomers Retire?
September 2009pdfblog post

Measuring the Effects of the Business Cycle on the Federal Budget: An Update
September 2009pdfadditional info

CBO's Economic Forecasting Record: 2009 Update
July 2009pdfblog post

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
June 2009pdfblog post

Did the 2008 Tax Rebates Stimulate Short-Term Growth?
June 10, 2009htmlpdfblog post
Economic and Budget Issue Brief

Measuring the Effects of the Business Cycle on the Federal Budget
June 2009pdfadditional infoblog post

Implementation Lags of Fiscal Policy
June 2009pdf
CBO Director Doug Elmendorf's presentation at the International Monetary Fund's conference on fiscal policy

Milken Institute Global Conference, 2009
April 2009pdfwebcastblog post
Presentation by CBO Director Douglas Elmendorf

Presentation to the Fixed Income Forum's Spring Roundtable
March 2009pdf

A Preliminary Analysis of the President's Budget and an Update of CBO's Budget and Economic Outlook
March 2009htmlpdfadditional infoblog post

Estimated Macroeconomic Impacts of the American Recovery and Reinvestment Act of 2009
March 2, 2009pdfblog post
Letter to the Honorable Charles E. Grassley

Estimated Macroeconomic Impacts of H.R. 1 as Passed by the House and by the Senate
February 11, 2009pdf
Letter to the Honorable Judd Gregg

Estimated Macroeconomic Effects of the Inouye-Baucus Amendment in the Nature of a Substitute to H.R. 1
February 4, 2009pdfblog post
Letter to the Honorable Judd Gregg

 

2008

Background Paper: The Outlook for Housing Starts, 2009 to 2012
November 2008pdf

The Effects of Recent Turmoil in Financial Markets on Retirement Security
October 7, 2008htmlpdfwebcastblog post
Testimony before the Committee on Education and Labor, U.S. House of Representatives

The Cyclically Adjusted and Standardized Budget Measures
October 2008htmlpdfadditional info

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
September 2008htmlpdf

Federal Responses to Market Turmoil
September 24, 2008htmlpdfchartswebcastblog post
Testimony before the Committee on the Budget, U.S. House of Representatives

Long-Term Effects of Indexing the Alternative Minimum Tax and Extending the Tax Reductions of 2001 and 2003
July 17, 2008pdfblog post
Letter to the Honorable Kent Conrad

How Changes in the Value of the Chinese Currency Affect U.S. Imports
July 2008htmlpdfadditional infoblog post

The Long-Term Economic Effects of Some Alternative Budget Policies
May 19, 2008htmlpdfblog post
Letter to the Honorable Paul Ryan

The Cyclically Adjusted and Standardized Budget Measures
April 2008htmlpdfadditional infoblog post

Policy Options for the Housing and Financial Markets
April 2008htmlpdfblog post

Data Used to Construct CBO's Measures of Uncertainty in Budget Projections
March 2008additional info

Update of CBO's Economic Forecast
February 15, 2008htmlpdfadditional infoblog post
Letter to the Honorable Kent Conrad

Testimony on Options for Responding to Short-Term Economic Weakness
January 22, 2008htmlpdfwebcastblog post
Testimony before the Committee on Finance, United States Senate

Options for Responding to Short-Term Economic Weakness
January 2008htmlpdfblog post

 

2007

Background Paper: How CBO Projects the Real Rate of Interest on 10-Year Treasury Notes
December 2007htmlpdf

CBO's Economic Forecasting Record: 2007 Update
November 2007pdf

The Cyclically Adjusted and Standardized Budget Measures: An Update
August 2007pdfadditional info

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
August 2007pdf

The Budgetary Costs of EGTRRA and JGTRRA Compared with Projected Deficits
July 20, 2007htmlpdf
Letter to the Honorable John M. Spratt, Jr.

Financing Projected Spending in the Long Run
July 9, 2007htmlpdf
Letter to the Honorable Judd Gregg

Testimony on Foreign Holdings of U.S. Government Securities and the U.S. Current Account
June 26, 2007htmlpdfwebcast
Testimony before the Committee on the Budget, U.S. House of Representatives

Explaining the Consumer Price Index
June 20, 2007htmlpdf

Will the U.S. Current Account Have a Hard or Soft Landing?
June 11, 2007htmlpdf

Labor Productivity: Developments Since 1995
March 2007pdf

Long-Term Spending on Entitlement Programs
March 8, 2007pdf
Letter to the Honorable Jeb Hensarling

The Uncertainty of Budget Projections: A Discussion of Data and Methods
March 2007pdfadditional info

Testimony on Economic Volatility
February 28, 2007htmlpdfwebcast
Testimony before the Joint Economic Committee, United States Congress

The Cyclically Adjusted and Standardized Budget Measures
February 2007pdfadditional info

Testimony on Economic Volatility
January 31, 2007htmlpdf
Testimony before the Committee on Ways and Means, U.S. House of Representatives

Testimony on the Budget and Economic Outlook: Fiscal Years 2008 to 2017
January 30, 2007htmlpdfwebcast
Testimony before the Committee on the Budget, U.S. House of Representatives

Testimony on the Budget and Economic Outlook: Fiscal Years 2008 to 2017
January 25, 2007htmlpdfwebcast
Testimony before the Committee on the Budget, United States Senate

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
January 2007pdf

Background Paper: Housing Wealth and Consumer Spending
January 2007pdf

 

2006

CBO's Economic Forecasting Record
November 2006pdf

The Cyclically Adjusted and Standardized Budget Measures: An Update
October 2006pdf

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
September 2006pdf

Testimony on the Budgetary Impact of Current and Proposed Border Security and Immigration Policies
August 30, 2006pdf
Testimony before the Committee on the Budget, United States Senate

Background Paper: How CBO Forecasts Income
August 2006pdf

The Economic Effects of Recent Increases in Energy Prices
July 2006pdf

A Potential Influenza Pandemic: An Update on Possible Macroeconomic Effects and Policy Issues
May 22, 2006pdf
Letter to the Honorable William H. Frist, M.D., and the Honorable Judd Gregg

The Economic Costs of Disruptions in Container Shipments
March 29, 2006pdf
Letter to the Honorable Norm Coleman

The Uncertainty of Budget Projections: A Discussion of Data and Methods
March 2006pdfadditional info

The Cyclically Adjusted and Standardized Budget Measures
March 2006pdf

 

2005

A Potential Influenza Pandemic: Possible Macroeconomic Effects and Policy Issues
December 8, 2005pdf
Letter to the Honorable William H. Frist, M.D.

Analyzing the Economic and Budgetary Effects of a 10 Percent Cut in Income Tax Rates
December 1, 2005pdf

Why Does U.S. Investment Abroad Earn Higher Returns Than Foreign Investment in the United States?
November 30, 2005pdf

Long-Term Economic Effects of Chronically Large Federal Deficits
October 13, 2005pdf

Testimony on the Macroeconomic and Budgetary Effects of Hurricanes Katrina and Rita
October 6, 2005htmlpdf
Testimony before the Committee on the Budget, U.S. House of Representatives

CBO's Economic Forecasting Record
October 2005pdf

The Macroeconomic and Budgetary Effects of Hurricanes Katrina and Rita: An Update
September 29, 2005pdf
Letter to the Honorable Jim Nussle and the Honorable Judd Gregg

Macroeconomic and Budgetary Effects of Hurricane Katrina
September 6, 2005pdf
Letter to the Honorable William H. Frist, M.D.

The Treatment of Federal Receipts and Expenditures in the National Income and Product Accounts
September 2005pdf

The Cyclically Adjusted and Standardized Budget Measures: Updated Estimates
September 2005pdf

Background Paper: Employment During the 2001-2003 Recovery
August 2005pdf

Recent Shifts in Financing the U.S. Current-Account Deficit
July 12, 2005pdf

Testimony on the Role of the Economy in the Outlook for Social Security
June 21, 2005htmlpdf
Testimony before the Subcommittee on Social Security, Committee on Ways and Means, U.S. House of Representatives

What Is a Current-Law Economic Baseline?
June 2, 2005htmlpdf

Background Paper: R&D; and Productivity Growth
June 2005pdf

Testimony on Economic Relationships Between the United States and China
April 14, 2005pdf
Testimony before the Committee on Ways and Means, U.S. House of Representatives

The Cyclically Adjusted and Standardized Budget Measures
February 2005htmlpdf

The Uncertainty of Budget Projections: A Discussion of Data and Methods
February 2005htmlpdf

 

2004

A Description of the Immigrant Population
November 2004htmlpdf

Background Paper: CBO's Projections of the Labor Force
September 2004htmlpdf

CBO's Economic Forecasting Record
September 2004htmlpdf

The Cyclically Adjusted and Standardized Budget Measures: Updated Estimates
September 2004htmlpdf

The Decline in the U.S. Current-Account Balance Since 1991
August 6, 2004htmlpdf

The Uncertainty of Budget Projections: A Discussion of Data and Methods
April 2004htmlpdf

Background Paper: A Summary of Alternative Methods for Estimating Potential GDP
March 2004htmlpdf

What Accounts for the Decline in Manufacturing Employment?
February 18, 2004htmlpdf

 

2003

Baby Boomers' Retirement Prospects: An Overview
November 2003htmlpdf

Testimony on the Chinese Exchange Rate and U.S. Manufacturing Employment
October 30, 2003htmlpdf
Testimony before the Committee on Ways and Means, U.S. House of Representatives

Comparing Budgetary and Trust Fund Measures of the Outlook for Social Security and Medicare
October 10, 2003htmlpdf

CBO's Economic Forecasting Record
October 2003html

How CBO Analyzed the Macroeconomic Effects of the President's Budget
July 2003htmlpdf

The Effects of NAFTA on U.S.-Mexican Trade and GDP
May 2003htmlpdf

The Uncertainty of Budget Projections: A Discussion of Data and Methods
April 2003htmlpdf

The Standardized and Cyclically Adjusted Budgets
March 2003htmlpdf

Social Security Reform: The Use of Private Securities and the Need for Economic Growth
January 3, 2003htmlpdf

Evaluating and Accounting for Federal Investment in Corporate Stocks and Other Private Securities
January 2003htmlpdf

 

2002

The Impact of Social Security and Medicare on the Federal Budget
November 14, 2002htmlpdf

The Impact of Trust Fund Programs on Federal Budget Surpluses and Deficits
November 4, 2002htmlpdf

CBO's Economic Forecasting Record
November 2002htmlpdf

Federal Debt and the Commitments of Federal Trust Funds
October 25, 2002htmlpdf

The Standardized and Cyclically Adjusted Budgets: Updated Estimates
September 2002htmlpdf

The Role of Computer Technology in the Growth of Productivity
May 2002htmlpdf

The Effect of Changes in Labor Markets on the Natural Rate of Unemployment
April 2002htmlpdf

Uncertainties in Projecting Budget Surpluses: A Discussion of Data and Methods
February 2002htmlpdf

Economic Stimulus: Evaluating Proposed Changes in Tax Policy
January 2002htmlpdf

 

2001

Social Security: A Primer
September 2001htmlpdf

CBO's Method for Estimating Potential Output: An Update
August 2001htmlpdf

The Need for Better Price Indices for Communications Investment
June 2001htmlpdf

Uncertainties in Projecting Budget Surpluses: A Discussion of Data and Methods
February 2001htmlpdf

 

2000

The Long-Term Budget Outlook
October 2000htmlpdf

Personal Bankruptcy: A Literature Review
September 2000htmlpdf

The Standardized Budget: Revised Historical Estimates
June 2000htmlpdf

Causes and Consequences of the Trade Deficit: An Overview
March 2000htmlpdf

A Framework for Projecting Interest Rate Spreads and Volatilities
January 2000htmlpdf

 

1999

Social Security Privatization: Experiences Abroad
January 1999htmlpdf

 

1998

Description of Economic Models
November 1998htmlpdf

Measurement of Employee Benefits in the National Accounts
September 1998htmlpdf

An Analysis of the Potential Macroeconomic Effects of the Economic Growth Act of 1998
August 1998htmlpdf

Social Security and Private Saving: A Review of the Empirical Evidence
July 1998htmlpdf

Testimony on Domestic Costs of Sanctions on Foreign Commerce
June 3, 1998htmlpdf

Social Security Privatization and the Annuities Market
February 1998htmlpdfblog post

 

1997

Two Papers on Fundamental Tax Reform
October 1997htmlpdf

An Economic Model for Long-Run Budget Simulations
July 1997pdf

The Economic Effects of Comprehensive Tax Reform
July 1997htmlpdf

 

1996

Labor Supply and Taxes
January 1996pdf

 

1995

Who Pays and When? An Assessment of Generational Accounting
November 1995htmlpdf

CBO's Method for Estimating Potential Output
October 1995pdf

Testimony on Debt Subject to Limit
July 28, 1995htmlpdf
Testimony before the Committee on Finance, United States Senate

Testimony on the Consumer Price Index
March 13, 1995htmlpdf
Testimony before the Committee on Finance, United States Senate

Budget Estimates: Current Practices and Alternative Approaches
January 1995htmlpdf

 

1994

An Analysis of Congressman Gephardt's Health Proposal
December 1994htmlpdf

An Analysis of the Bipartisan Health Care Reform Act
October 1994htmlpdf

Recent Developments in the Theory of Long-Run Growth: A Critical Evaluation
October 1994htmlpdf

Is the Growth of the CPI a Biased Measure of Changes in the Cost of Living?
October 1994htmlpdf

Implications of Revising Social Security's Investment Policies
September 1994htmlpdf

An Analysis of Congressman Michel's Health Proposal
August 1994htmlpdf

A Preliminary Analysis of Senator Mitchell's Health Proposal
August 1994htmlpdf

A Preliminary Analysis of the Health Security Act as Reported by the Senate Committee on Finance
July 1994htmlpdf

Testimony on National Saving and the Role Played by Baby Boomers
June 17, 1994htmlpdf
Testimony before the Subcommittee on Deficits, Debt Management and Long-Term Economic Growth, Committee on Finance, United States Senate

The Economic Impact of a Solvency Crisis in the Insurance Industry
April 1994htmlpdf

Greening the National Accounts
March 1994htmlpdf

An Analysis of the Administration's Health Proposal
February 1994htmlpdf

 

1993

Economic Reforms and Capital Flows in Ten Countries
September 1993pdf

A Budgetary and Economic Analysis of the North American Free Trade Agreement
July 27, 1993pdf
Testimony before the Subcommittee on Legislation and National Security, Committee on Government Operations, U.S. House of Representatives

A Budgetary and Economic Analysis of the North American Free Trade Agreement
July 1993pdf

The Federal Home Loan Banks in the Housing Finance System
July 1993pdf

Assessing the Decline in the National Saving Rate
April 1993pdf

 

1992

Testimony on the Economic Impact of Possible Solvency Problems in the Insurance Industry
April 29, 1992htmlpdf
Testimony before the Subcommittee on Policy Research and Insurance, Committee on Banking, Finance and Urban Affairs, U.S. House of Representatives

The Economic Effects of the Savings and Loan Crisis
January 1992pdf

 

1991

Testimony on How Federal Spending for Infrastructure and Other Public Investments Affects the Economy
September 26, 1991pdf
Testimony before the Task Force on Community Development and Natural Resources, Committee on the Budget, U.S. House of Representatives

How Federal Spending for Infrastructure and Other Public Investments Affects the Economy
July 1991pdf

Comparative Economic Effects of Increased Public Investment and Reduced Payroll Taxes
April 1991pdf

 

1990

How the Economic Transformations in Europe Will Affect the United States
December 1990pdf

Effects of the Recent Oil Price Rise on the Economy
September 1990pdf

Testimony on the Possible Impact of S. 712 on the Puerto Rican Economy and the Federal Budget
April 26, 1990pdf
Testimony before the Committee on Finance, United States Senate

Potential Economic Impacts of Changes in Puerto Rico's Status Under S. 712
April 1990pdf

Potential Effects of NIPA Rebasing and GPO Revisions in 1990 and 1991 on Perceptions of Real Growth in the 1980s
April 1990pdf

The Federal Deficit: Does It Measure the Government's Effect on National Saving?
March 1990pdf

 

1989

Testimony on Long-Run Targets for the Federal Deficit
September 19, 1989pdf
Testimony before the Committee on the Budget, U.S. House of Representatives

Macroeconomic Policies to Reduce the Current-Account Deficit: Technical Background
August 1989pdf

Policies for Reducing the Current-Account Deficit
August 1989pdf

Deficits and Interest Rates: Theoretical Issues and Empirical Evidence
January 1989pdf

 

1987

Testimony on Current Account Deficits
November 5, 1987pdf
Testimony before the Joint Economic Committee

 

1986

Has Trade Protection Revitalized Domestic Industries?
November 1986htmlpdf

Testimony on the Presentation and Oversight of the Federal Reserve System's Budget
January 29, 1986pdf
Testimony before the Subcommittee on Domestic Monetary Policy, Committee on Banking, Finance, and Urban Affairs, U.S. House of Representatives

 

1985

Testimony on H.J. Res. 372, the Balanced Budget and Emergency Deficit Control Act of 1985
October 17, 1985pdf
Testimony before the Subcommittee on Legislation and National Security, Committee on Government Operations, U.S. House of Representatives

Testimony on Federal and External Deficits and Debts
July 18, 1985pdf
Testimony before the Subcommittee on Economic Stabilization, Committee on Banking, Finance, and Urban Affairs, U.S. House of Representatives

Measuring the Federal Debt and Deficit: Adjustments and Rationales
April 1985htmlpdf

 

1984

The Effects of Changes in Interest Rates on Different Sectors of the U.S. Economy
June 1984htmlpdf

Analysis of the Deterioration in U.S. Trade Performance
March 1984pdf

 

1983

Economic and Budgetary Consequences of an Oil Price Decline--A Preliminary Analysis
March 1983pdf

 

1982

How Changes in Fiscal Policy Affect the Budget: The Feedback Issue
June 1982pdf

The Revision of the Consumer Price Index
April 20, 1982pdf
Testimony before the Subcommittee on Congressional Operations and Oversight, Committee on Governmental Affairs, United States Senate

 

1981

The Productivity Slowdown: Causes and Policy Responses
June 1981pdf
Staff Memorandum

Effects of Immediate Decontrol
January 1981pdf

The Productivity Problem: Alternatives for Action
January 1981htmlpdf

 

1978

Background Paper: Countercyclical Uses of Federal Grant Programs
November 1978pdf

Understanding Fiscal Policy
April 1978pdf

 

1977

Testimony on Current Monetary Policies and the Coordination of Monetary and Fiscal Policies
November 11, 1977htmlpdf
Testimony before the Committee on Banking, Housing, and Urban Affairs, United States Senate

The CBO Multipliers Project: A Methodology for Analyzing the Effects of Alternative Economic Policies
August 1977pdf

Background Paper: Incomes Policies in the United States: Historical Review and Some Issues
May 1977pdf

 

1975

Temporary Measures to Stimulate Employment: An Evaluation of Some Alternatives
September 1975pdf

Inflation and Unemployment: A Report on the Economy
June 1975pdf