Archive for February 26th, 2014

Forecast bias of government agencies – CBO and OMB (along with bluechip)

February 26, 2014

Robert Krol of California State University in the recent Cato Journal has this interesting paper.

There is always criticism over GDP forecasts by govt agencies. They are usually seen as upward biased in terms of growth and downward biased for inflation.

The author looks at GDP projections given by two US agencies – CBO and OMB:


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