Report
Fact-based, data-driven research and analysis to advance democratic debate on vital issues shaping people’s lives.
Center for Economic and Policy Research
1611 Connecticut Ave. NW
Suite 400
Washington, DC 20009
Tel: 202-293-5380
Fax: 202-588-1356
https://cepr.net
December 2002, Dean Baker
This paper explores the failure of most financial analysts to predict the collapse of the stock market bubble. It shows the consequences of such overly-optimistic forecasting on federal budgeting processes and on the management of defined benefit pension plans.