Th e State of the Art: Revenue Forecasting in U.S. State Governments

Contents Introduction ........................................................................................................28 Th e Complexity of Revenue Forecasting .............................................................29 Forecasting Methods Used ..................................................................................31 Measuring Accuracy in Forecasting ....................................................................33 Forecasting Income Tax Revenue ....................................................................... 34 Th e Comprehensive Revenue Forecast ................................................................36 Th e Frequency of Making Estimates ...................................................................36 Good Forecasting Performance ...........................................................................37