Shocks and the economic outlook
Abstract: The U.S. economy has recently been hit by a number of supply shocks, and businesses and consumers have seen oil, food, and materials prices rise as a result. Such shocks typically take several years to play themselves out completely. I apply a downsized version of a macroeconomic forecasting model in use at the Cleveland Fed to project the likely quantitative impact of the shocks on GDP growth and consumer prices.
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2011
Issue: JuneOrder Number: 10