What do we know about the effects of the Alaska Permanent Fund Dividend?

Abstract

The Alaska Permanent Fund Dividend (PFD) has been distributed to Alaska residents for 37 years, providing each resident an equal share of a yearly government appropriation based on the earnings of the Alaska Permanent Fund. While support for the program is high, work assessing the PFD’s influence on the lives of Alaskans is limited. Recently, a number of researchers have analyzed the causal effect of the PFD on a variety of socio-economic outcomes including employment, consumption, income inequality, health, and crime. This paper summarizes this empirical literature and highlights future areas of research.