The Wharton Model is extrapolated for 24 quarters with appropriate assumptions. The problems involved in specifying a fresh model for long range forecasting are then outlined, including "endogenizing ...

ECONOMISTS develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “What Are Economic Models,” F&D, ...

Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...