A Note on Revenue Forecasting During the Dukakis Administration
AbstractCritics of Governor Michael Dukakis have suggested that this year?s $400 million overestimate of tax revenues in Massachusetts casts doubt on his putative managerial skills. In this paper, we carefully examine the entire Dukakis forecasting record. We find that the 1988 experience was "unusual? in the sense that on average, revenue forecasts produced by his administration have been too low rather than too high. In addition, we find that there is no significant difference between the quality of the Dukakis forecasts and those of his predecessors in Massachusetts. Hence, those who seek to discover anything extraordinarily positive or negative about Dukakis? managerial capabilities should shift their attention to skills other than revenue forecasting.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2667.
Date of creation: Jul 1988
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- Feenberg, D.R. & Rosen, H.S., 1988. "A Note On Revenue Forecastingduring The Dukakis Administration," Papers 23, Princeton, Woodrow Wilson School - Discussion Paper.
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- Feenberg, Daniel R, et al, 1989.
"Testing the Rationality of State Revenue Forecasts,"
The Review of Economics and Statistics,
MIT Press, vol. 71(2), pages 300-308, May.
- Feenberg, D.R. & Gentry, W. & Gilroy, D. & Rosen, H.S., 1988. "Testing The Rationality Of State Revenue Forecasts," Papers 16, Princeton, Woodrow Wilson School - Discussion Paper.
- Daniel R. Feenberg & William Gentry & David Gilroy & Harvey S. Rosen, 1989. "Testing the Rationality of State Revenue Forecasts," NBER Working Papers 2628, National Bureau of Economic Research, Inc.
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