Those states that have recovered revenue lost during the Great Recession have done so due to factors largely beyond their control.
The Great Recession of 2007-2009 meant a large hit to the revenues of U.S. states. Now, more than five years later, revenues in most of these states have recovered. But what has fuelled this recovery? Using data from across all 50 states, James Alm and David L. Sjoquist find that internal factors – such as the state’s economy, taxes, […]