Forecasting state revenues: Expanding the dimensions of budgetary forecasting research

For many years the only sustained form of budgetary forecasting research was econometrics based. Recently work has expanded to include research on political and organizational factors associated with forecast accuracy. This paper, based upon two surveys of revenue forecasting in the states, broadens the inquiry to address human interaction, including the importance of inquisitiveness and learning, political pressures, and bias. It concludes that learning should be a central concern of budgetary forecasting.