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The Federal Budget

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If economic models are economists' stock-in-trade, the the assumptions used to construct them are their critical raw materials. These assumptions have long provoked pointed barbs at the expense of the profession and it's conclusions, but in the real world of policy, assumptions are no joke.

Suggested citation: “The Federal Budget,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-04, pp. 05, 04.01.1997.

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