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California
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The Cato Journal
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- Author: Robert Krol
- Publication Date: 03-2014
- Content Type: Journal Article
- Journal: The Cato Journal
- Institution: The Cato Institute
- Abstract: Forecasts of future economic activity underlie any budget revenue projection. However, the forecasters in a government agency may face incentives or pressures that introduce forecast bias. For example, agency forecasters may be rewarded for a rosy growth forecast that allows politicians to avoid politically costly program cuts or tax increases. Similarly they may be penalized for underforecasting economic growth. Where a reward system is asymmetric, it would make sense to observe biased forecasts.
- Topic: Government
- Political Geography: California
- Author: Jason Kuznicki
- Publication Date: 10-2009
- Content Type: Journal Article
- Journal: The Cato Journal
- Institution: The Cato Institute
- Abstract: It is daunting to review a book claiming that everything you believe is wrong. Fortunately, William Hudson's The Libertarian Illusion also attacks many things that neither I nor very many other libertarians believe. This gives courage for the rest.
- Topic: Government
- Political Geography: California