Word: eckstein
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...producers warned of possible additional increases in 1981 (see following story). Meanwhile in the U.S., more and more domestically drilled crude is being marketed at sky-high world prices as a result of the continuing phaseout of domestic crude oil price controls. Democrat Otto Eckstein, president of Data Resources, an economic forecasting firm, estimated that rising petroleum prices will add 2.2 percentage points to the nation's consumer price index...
...TIME board last week split sharply over whether that new approach is working, and there was also disagreement about whether Volcker will continue to pursue it in the new Administration taking office next month. Democrat Eckstein wondered about how many more times the Fed will feel compelled to "beat the economy about the head" before people believe that the bank is serious about controlling the money supply. Eckstein jokingly asked whether the Federal Reserve's vacillating policy of first tight money and then loose money was creating "the six-month business cycle," alternating between boom and bust...
...People really feel society's problems are economic, and Social Analysis 10 is the course that tries to add an understanding of these problems," Otto Eckstein, Warburg Professor of Economics, said yesterday...
Aside from its relevance to today's society, Eckstein said, the course is also popular because many students see it as useful for law or business careers. In addition, the course's emphasis on teaching attracts many students, he said, citing its orientation program for new section leaders every fall and its special sections for mathematical, "radical" or self-paced approaches, Eckstein said...
...prices play in determining the nation's energy mix. The Westinghouse electricity model projects both demographic trends and economic indicators, such as total population, housing stock and employment to predict total electricity use. The model must adjust these input assumptions from the energy forecasts of Data Resources, Inc., Otto Eckstein's Lexington, Mass., econometrics firm. However sophisticated the model or precise its electricity computations, the forecasts will prove no more accurate than the input assumptions someone feeds it. MR&A's forecast last year projected about 104 quadrillion British Thermal Units (BTUs) total energy demand...