Daniel
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Daniel Minchew minchew@act.org
Director
ACT * American College Testing 202 223-2318 - Telephone
One Dupont Circle, NW, # 340
Washington, DC 20036-1170 202 293-2223 - Fax
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Yale University professor Ray C. Fair has devised a powerful
economic forecasting system. Previously available at a yearly fee
of $5000 USD for commercial users and $750 USD for educational
users, Professor Fair has decided now to make the model available
free Online at
* World-Wide Web: http://fairmodel.econ.yale.edu/
FAIRMODEL is a computer-based model of the United States economy,
made up of 131 equations and reams of actual and predicted
economic data covering the years 1952 to 2001. Users can
experiment on a scale even politicians only dream of: For
instance, they can adjust the income-tax rate and see how the
Gross National Product and other measures of economic activity are
affected.
Professor Fair says, models like his required powerful mainframe
computers to crunch the numbers. Now all the computation can be
done right on the Internet -- in a matter of seconds. Although
great efforts have been made to make the site user friendly,
reading the Online documentation is recommended before activating
the model before using the tool.