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    Oil Price Surprises and the Budget

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    Author
    Goldsmith, Scott
    Keyword
    oil price volatility
    OPEC
    petroleum revenues
    production declines
    state budget
    fiscal policy note series
    Metadata
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    URI
    http://hdl.handle.net/11122/12405
    Abstract
    Policy makers drawing up state budgets each year tend to use the price of oil prevailing during the legislative session as the basis for predicting oil prices and likely state petroleum revenues. Currently these make up about 85 percent of state income. This fiscal policy note examines some recent trends and the implications for short-term volatility, and longer term declines for state spending.
    Date
    1990
    Type
    Report
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