Dynamic Revenue Estimation
This paper considers the question of adopting 'dynamic' revenue estimation methods, which would incorporate the predicted macroeconomic effects of policies. It describes the current revenue estimation process and how these estimates are used in the formation of policy. It then evaluates this process as an exercise in forecasting, considering not only its methodology but also its performance. This evaluation illustrates some of the difficulties that would accompany attempts to use dynamic methods. Finally, the paper relates the choice among different revenue estimation procedures to the political process and the use to which the revenue estimates are put.
Volume (Year): 10 (1996)
Issue (Month): 1 (Winter)
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References listed on IDEAS
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- Feldstein, Martin, 1995.
"The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1986 Tax Reform Act,"
Journal of Political Economy,
University of Chicago Press, vol. 103(3), pages 551-572, June.
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- Mark Hooker & Michael Knetter, 1994. "Unemployment Effects of Military Spending: Evidence from a Panel of States," NBER Working Papers 4889, National Bureau of Economic Research, Inc. Full references (including those not matched with items on IDEAS)