CBO Projects More Severe Downturn

The new economic projections from the Congressional Budget Office show the economy remaining well below its potential level of output until 2014. The projections show the unemployment rate averaging 10.2 percent in 2010 and gradually edging down to the long-term sustainable rate of 4.8 percent by 2014. Over this 4 year period, the workforce will face a substantially higher risk of unemployment or underemployment due to insufficient demand in the economy. This paper highlights some of the main implications of CBO’s new economic projections.

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Year of publication:	2009-08
Authors:	Baker, Dean
Institutions:	Center for Economic and Policy Research (CEPR)
Subject:	right to rent \| foreclosures \| housing

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Extent:	application/pdf
Series:	CEPR Reports and Issue Briefs.
Type of publication:	Book / Working Paper
Language:	English
Notes:	5 pages
Classification:	E - Macroeconomics and Monetary Economics ; E1 - General Aggregative Models ; E12 - Keynes; Keynesian; Post-Keynesian ; E2 - Consumption, Saving, Production, Employment, and Investment ; E20 - Consumption, Saving, Production, Employment, and Investment. General ; E21 - Consumption; Saving ; E22 - Capital; Investment (including Inventories); Capacity ; E23 - Production ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; H - Public Economics ; H6 - National Budget, Deficit, and Debt ; H61 - Budget; Budget Systems ; H62 - Deficit; Surplus
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005068281