Department

Economics, Finance and Quantitative Analysis

Document Type

Article

Publication Date

2002

Abstract

Feenberg et al. (1989) apply a simple regression-based method to test the rationality of state revenue forecasts. Using the same regression-based methodology, we test the rationality of federal revenue forecasts for fiscal year 1802 through 2001. We find that Treasury forecasts of federal revenues satisfy the conditions of weak rationality.

Journal

Public Finance and Management

Journal ISSN

1523-9721

Volume

22

Issue

3

First Page

470

Last Page

487

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