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PAD-82-26 1 (1982-02-16)

handle is hein.gao/gaobabcyx0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON. D.C. Z0548 RESTRICTED - Not to r,38 released e idO the eperal Accounting Office except n he basis of specifiC approva| POGM ANALYSIS ythe Office of congressional RelatiONs, 0IVISION _h f B-206199 RELEASED FEBRUARY 16,1982 The Honorable Lloyd M. Bentsen II111I~III United States Senate 117705 Dear Senator Bentsen: Subject: How Much Does the Federal Government Spend on Economic Modeling Activities? (PAD-82-26) On May 22, 1981, you requested that we identify fiscal year 1978 and fiscal year 1980 Federal payments for economic modeling services from each of four private economic forecasting firms-- Data Resources, Inc.; Chase Econometrics; Wharton Econometric Forecasting Associates, Inc.; and Merrill Lynch Economics, Inc. You subsequently asked us to identify total Federal expenditures for both internal and external modeling activities. Because obtaining audited data would have been very time- consuming, your office agreed to our obtaining unverified data from 24 Federal departments and agencies, through a letter of inquiry, and from the four forecasting firms. (See enclosure I for a list of agencies.) In our letter of inquiry to the departments and agencies, economic modeling activities were defined as periodic forecasts, economically-related simulations of all types (national, regional, and industry), and special projects involving single and multiple equation regressions. We requested the amount of money spent on both internal and external activities. Internal activities are such things as in-house development and use of specialized models, forecasts, and data bases, while external services are such things as specialized studies, subscription costs (both access and hard copies), and consulting services. (External activities require contracts and purchase and delivery orders.) The figures repre- sent best estimates, based on available information, of the mod- eling expenditures for each agency, department, and firm and their individual interpretations of what constitutes modeling activities. Combined payments received from the Federal Government by the four companies totaled approximately $1.8 million for FY 78 and $3.3 million for FY 80. These receipts are not limited to payments made (971759) 90 5.

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