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Economic forecasting is fraught with the perils of excessive noise

Economists GDP forecasts are often inaccurate due to the flexibility and varying variables used in their analysis, as well as unforeseen events. Forecasting models have limited validity and should be taken with caution when making policy or investment decisions. Ranges of forecasts may be more realistic than specific numbers. ....

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How Government Unions Affect State and Local Finances: An Empirical 50-State Review

Executive Summary Over the past half-century, the American union movement has moved into government. Despite highly publicized efforts to curtail collective bargaining powers of government unions in Ohio and Wisconsin, almost all changes to government collective bargaining statutes over the past 20 years have increased, not decreased, the powers enjoyed by government unions. ....

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