The Macroeconomic Analysis Division advises the Congress on various macroeconomic issues. Its analyses include macroeconomic projections for a 10-year horizon, the impact of fiscal policy on the economy, and dynamic general-equilibrium modeling. The division has several key responsibilities:
The division collaborates extensively with other parts of CBO. Besides helping to produce CBO's twice-yearly Budget and Economic Outlook, the division works with other CBO staff on macroeconomic issues involving tax policy, macroeconomic modeling of environmental, health, and energy matters, issues related to Social Security and financial markets, and budget matters.
The Macroeconomic Analysis Division employs approximately18 Ph.D.-level economists. It also offers opportunities to a few assistant analysts—many of whom go on to graduate school after working at CBO. The division gives economists who are interested in public policy a unique opportunity to apply their training in economics. Staff members write CBO studies, draft testimony to be delivered at Congressional hearings, and carry out original research for publication in academic journals.
The division offers a collegial work environment. New analysts are often teamed with more experienced staff during their first research projects, and their work is supported by staff of the division and by other economists at CBO. Analysts discuss their work in progress and comment on the work of others during CBO-wide seminars. As is true with all of CBO, the Macroeconomic Analysis Division provides an intellectually challenging environment where analyses help inform the debate over national policy.