| Publisher | Federal Reserve Board | ||
|---|---|---|---|
| Format | 783.0KB PDF | Date added | 05 Nov 2003 |
| Topics | Financial Management | ||
| Downloads | 4 | ||
This paper provides an introduction to the practice of forecasting "exogenous" components of federal government taxes and spending-policy actions, for short-in the United States. This paper estimates simple models of defense expenditures that are useful for constructing current-quarter forecasts based on incoming daily and monthly spending data. Also, the paper discusses forecasting policy changes in the context of extending recent empirical work of Alan Auerbach (2002, 2003) on fiscal reaction functions.
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