| Author: | Campbell, B. Ghysels, E. |
| Title: | Federal budget projections: a nonparametric assessment of bias and efficiency |
| Journal: | Review of Economics and Statistics
1995 : FEB, VOL. 77:1, p. 17-31 |
| Index terms: | BUDGET BIAS EFFICIENCY |
| Language: | eng |
| Abstract: | As an important initial step in the annual budget process, the President presents to Congress each January his budget with details of federal spending activity and priorities. The paper is a statistical assessment of the merit of the budget figures submitted to Congress. The authors investigate the overall budget as well as several important specific accounts. An important aspect of the paper is the introduction of a nonparametric methodology which incorporates exact tests for assessing the unbiasedness, and the internal and external consistency of forecasts. |
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