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Evaluating State Tax Revenue Variability: A Portfolio Approach

FRB of St. Louis Working Paper No. 2006-008A

10 Pages Posted: 8 Feb 2006  

Thomas A. Garrett

Federal Reserve Bank of St. Louis - Research Division

Date Written: February 2006

Abstract

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.

Keywords: state revenue, variability, portfolio, taxes

JEL Classification: H71, G11

Suggested Citation

Garrett, Thomas A., Evaluating State Tax Revenue Variability: A Portfolio Approach (February 2006). FRB of St. Louis Working Paper No. 2006-008A. Available at SSRN: https://ssrn.com/abstract=881778 or http://dx.doi.org/10.2139/ssrn.881778

Thomas A. Garrett (Contact Author)

Federal Reserve Bank of St. Louis - Research Division ( email )

411 Locust St
Saint Louis, MO 63011
United States

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