Fiscal policy and fickle fortunes: what’s luck got to do with it?
AbstractThe author contends that luck has played a major role in the fiscal fortunes of the 1990s. He (along with many others) is therefore concerned about the unquestioned presumption that projected budget surpluses are as good as achieved. Such a presumption, he says, is a shaky foundation from which to launch major new budget initiatives.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.
Volume (Year): (2000)
Issue (Month): Apr ()
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- Kevin L. Kliesen & Daniel L. Thornton, 2001. "The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 11-24.
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