Journal Article

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

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.

Keywords: Budget; Fiscal policy;

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2000

Issue: Apr

Order Number: 1