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Wharton Econometric Forecasting Associates
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==Origins== Incorporated in 1969 by the Trustees of the University of Pennsylvania as a "not for profit" organization, WEFA Inc was an outgrowth of the Economics Research Unit (ERU) located in the economics department of the University of Pennsylvania. The ERU, a research unit devoted to graduate economics education, was originally sponsored in 1961 by grants from five US corporations including, IBM, Bethlehem Steel, John Deere, Exxon and Sunoco. Among other things, the ERU was originally charged with the maintenance and use of the Wharton Quarterly Model [WQM] and the Wharton Index of Capacity Utilization. Between 1961 and 1969 the number of sponsors increased to the point where a more efficient organization was needed [WEFA Inc] to manage the many projects that grew out of the operation of the Wharton Quarterly Model.
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