State Government Revenue Recovery from the Great Recession

James Alm () and David Sjoquist

No 1408, Working Papers from Tulane University, Department of Economics

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.

Keywords: recession; state government finance; local government finance (search for similar items in EconPapers)
JEL-codes: H12 H20 H71 (search for similar items in EconPapers)
Date: 2014-08
New Economics Papers: this item is included in nep-ger, nep-pub and nep-ure
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Citations: View citations in EconPapers (3)

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http://repec.tulane.edu/RePEc/pdf/tul1408.pdf First Version, July 2014 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:tul:wpaper:1408

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