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State Government Revenue Recovery from the Great Recession

Author

Listed:
  • James Alm

    () (Department of Economics, Tulane University)

  • David L. Sjoquist

    () (Department of Economics, Georgia State University)

Abstract

The "Great Recession" lasted from December 2007 to June 2009, and it wreaked havoc on the revenues of state (and local) governments. While the U.S. economy has improved since the end of the Great Recession, state government revenues have in most cases still not completely recovered. We use various indicators to measure how different states have -- or have not -- recovered in the aftermath of the Great Recession, and we also attempt to explain why these different patterns of recovery have emerged. Overall, we find that some, but far from all, state governments have recovered the revenue they lost during the Great Recession. We also find that there is no single causal explanation for recovery that applies to all state governments.

Suggested Citation

  • James Alm & David L. Sjoquist, 2014. "State Government Revenue Recovery from the Great Recession," Working Papers 1408, Tulane University, Department of Economics.
  • Handle: RePEc:tul:wpaper:1408
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    File URL: http://econ.tulane.edu/RePEc/pdf/tul1408.pdf
    File Function: First Version, July 2014
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    Cited by:

    1. James Alm, 2017. "Is Economics Useful for Public Policy?," Working Papers 1702, Tulane University, Department of Economics.
    2. James Alm, 2017. "Is Economics Useful for Public Policy?," Working Papers 1702, Tulane University, Department of Economics.

    More about this item

    Keywords

    recession; state government finance; local government finance;

    JEL classification:

    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue

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