Posted: 11 Apr 2005
The authors write that Oregon couldn't afford to establish a rainy day fund; borrowing in times of state fiscal crisis is cheaper. The only workable alternative to countercyclical saving or borrowing is a substantial overhaul of Oregon's revenue code, and that's a high price to pay for fiscal stability, the authors say.
Suggested Citation: Suggested Citation
Gates, Bruce and Thompson, Fred and Brown, Jessica and Page, Jason and Yoshida, Ryuzaburo, Does Oregon Need a Rainy Day Fund? Like a Fish Needs a Bicycle. State Tax Notes, Vol. 36, No. 2, April 11, 2005. Available at SSRN: https://ssrn.com/abstract=701662