Evaluating State Tax Revenue Variability: A Portfolio Approach
Thomas A. Garrett
Federal Reserve Bank of St. Louis - Research Division
FRB of St. Louis Working Paper No. 2006-008A
State revenue variability is evaluated using a volatility model rooted in portfolio theory. The model evaluates how closely a state's revenue portfolio is constructed to minimize variability in total state tax revenue. The model complements parametric methods of revenue variability.
Number of Pages in PDF File: 10
Keywords: state revenue, variability, portfolio, taxes
JEL Classification: H71, G11
Date posted: February 8, 2006
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