Economic Impacts of the Vetoes on the Alaska Economy

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Show simple item record Guettabi, Mouhcine Klouda, Nolan 2019-08-30T20:39:10Z 2019-08-30T20:39:10Z 2019-07-08
dc.description.abstract On June 28, 2019 Governor Mike Dunleavy announced line-item vetoes totaling $409 million from the State of Alaska budget for Fiscal Year 2020. These vetoes include significant cuts to the University of Alaska, Medicaid, payments to local governments, public assistance programs, state personnel headcounts, and numerous other categories. The full consequences of these cuts on the state economy, fiscal health, population, and policy outcomes will take years to develop. In this paper, we provide the short term impacts of the cuts, how they interact with the current state of the economy, and a descriptive outlook of the some of the future effects. We find the cuts will result in more than 4,000 jobs lost in the short run and will therefore return the Alaska economy into recession. While the short term losses represent a considerable negative shock to the economy, the consequences of these cuts on long term development could be even more pronounced. en_US
dc.description.tableofcontents Introduction / Employment effects of the cuts / How strong is the Alaska economy? / What do the cuts mean for the recovery? / University implications / Takeaways and long run considerations en_US
dc.language.iso en_US en_US
dc.publisher Institute of Social and Economic Research, University of Alaska Anchorage en_US
dc.subject Alaska en_US
dc.subject State of Alaska en_US
dc.subject budget en_US
dc.title Economic Impacts of the Vetoes on the Alaska Economy en_US
dc.type Report en_US

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