The R/ECON™ Econometric Forecasting Model:
Forecasts the New Jersey economy up to twenty years into the future.
The model consists of nearly 300 equations that estimate:
- gross state product, employment, prices, and wage rates for major industries
- personal income and its components
- inflation
- population, labor force, and unemployment
- housing permits, sales, and prices
- local and state tax revenues
- usage and prices of electricity, natural gas, fuel oil, and motor fuel.
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