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Fiscal policy and fickle fortunes: what’s luck got to do with it?

Author

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  • David E. Altig

Abstract

The 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.

Suggested Citation

  • David E. Altig, 2000. "Fiscal policy and fickle fortunes: what’s luck got to do with it?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr.
    • Handle: RePEc:fip:fedcec:y:2000:i:apr1
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    Cited by:

    1. 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, vol. 83(Mar), pages 11-24.

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    Keywords

    Budget; Fiscal policy;

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