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2. Forecast Bias of Government Agencies
- Author:
- Robert Krol
- Publication Date:
- 03-2014
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- Forecasts of future economic activity underlie any budget revenue projection. However, the forecasters in a government agency may face incentives or pressures that introduce forecast bias. For example, agency forecasters may be rewarded for a rosy growth forecast that allows politicians to avoid politically costly program cuts or tax increases. Similarly they may be penalized for underforecasting economic growth. Where a reward system is asymmetric, it would make sense to observe biased forecasts.
- Topic:
- Government
- Political Geography:
- California
3. Estimating ObamaCare's Effect on State Medicaid Expenditure Growth
- Author:
- Jagadeesh Gokhale
- Publication Date:
- 01-2011
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- Unless repeal attempts succeed, the Patient Protection and Affordable Care Act of 2010 (ObamaCare) promises to increase state government obligations on account of Medicaid by expanding Medicaid eligibility and introducing an individual health insurance mandate for all US citizens and legal permanent residents. Once ObamaCare becomes fully effective in 2014, the cost of newly eligible Medicaid enrollees will be almost fully covered by the federal government through 2019, with federal financial support expected to be extended thereafter. But ObamaCare provides states with zero additional federal financial support for new enrollees among those eligible for Medicaid under the old laws. That makes increased state Medicaid costs from higher enrollments by "old-eligibles" virtually certain as they enroll into Medicaid to comply with the mandate to purchase health insurance. This study estimates and compares potential increases in Medicaid costs from ObamaCare for the five most populous states: California, Florida, Illinois, New York, and Texas.
- Topic:
- Government, Health, Markets, and Health Care Policy
- Political Geography:
- United States, New York, California, and Florida
4. How Urban Planners Caused the Housing Bubble
- Author:
- Randal O'Toole
- Publication Date:
- 10-2009
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- Everyone agrees that the recent financial crisis started with the deflation of the housing bubble. But what caused the bubble? Answering this question is important both for identifying the best short-term policies and for fixing the credit crisis, as well as for developing long-term policies aimed at preventing another crisis in the future.
- Topic:
- Economics, Markets, and Financial Crisis
- Political Geography:
- United States, California, and Georgia
5. The Libertarian Illusion: Ideology, Public Policy, and the Assault on the Common Good
- Author:
- Jason Kuznicki
- Publication Date:
- 10-2009
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- It is daunting to review a book claiming that everything you believe is wrong. Fortunately, William Hudson's The Libertarian Illusion also attacks many things that neither I nor very many other libertarians believe. This gives courage for the rest.
- Topic:
- Government
- Political Geography:
- California
6. High-Speed Rail: The Wrong Road for America
- Author:
- Randal O'Toole
- Publication Date:
- 10-2008
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- In the face of high energy prices and concerns about global warming, environmentalists and planners offer high-speed rail as an environmentally friendly alternative to driving and air travel. California, Florida, the Midwest, and other parts of the country are actively considering specific high-speed rail plans.
- Topic:
- Development and Environment
- Political Geography:
- United States, California, and Florida
7. CATO Institute: Rethinking Electricity Restructuring
- Author:
- Peter Van Doren and Jerry Taylor
- Publication Date:
- 11-2004
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- Electric utility restructuring was initiated in the 1990s to remedy the problem of relatively high electricity costs in the Northeast and California. While politicians hoped that reform would allow low-cost electricity to flow to highcost states and that competition would reduce prices, economists wanted reform to eliminate regulatory incentives to overbuild generating capacity and spur the introduction of real-time prices for electricity.
- Topic:
- Economics, Energy Policy, Government, and Politics
- Political Geography:
- California