U.S and Kansas Economic Forecasts for 1994 Midyear Update

Abstract

The Institute for Public Policy and Business Research is pleased to present the midyear update of its 1994 economic forecast for the United States and Kansas. The forecast was generated with the Kansas Econometric Model and the Indiana University Econometric Model of the United States. This report includes an executive summary, an explanation of the assumptions used in making the forecasts, forecasts for the U.S. and Kansas economies for 1994, and an appendix with detailed quarter by quarter forecasts for each sector.

The forecast and this report were prepared by Norman Clifford, Research Fellow and director of the Kansas Econometric Model. The Kansas Econometric Model is a long-term project of the Institute; Professor Clifford, Professor Mohamed El-Hodiri, Dr. Gary Albrecht and Dr. Robert Glass, among others, have been instrumental in its development. Professor Donald Lien and Dr. David Rearden have been responsible for the development of a supporting ARIMA model.