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Reviews the cyclicality of capital gains and the impact of these fluctuations on general fund revenues. Capital gains are highly cyclical, but during periods of high capital gains, the increase in general fund revenue has not been perceived to be transitory; instead, permanent tax reductions and spending increases have been made.
Dennis received a B.A. in economics and mathematics from Grand Valley State University, a M.S. in economics from Michigan State University, and a Ph.D. in economics from Michigan State University in 1978. He has served on the faculty of the Department of Economics at ASU since 1979, as director of ASU’s L. William Seidman Research Institute (2004-24), and as the director of the Office of the University Economist since 2005.
Assesses the total (direct, indirect and induced) contribution of Arizona State University and its employees, students, and visitors in fiscal year 2024 on the state economy as follows: gross product of $6.1 billion, labor income of $3.8 billion, and employment of 55,688.
Summarizes migration data by state from three sources: the Internal Revenue Service, the American Community Survey, and the University of Wisconsin.
EXECUTIVE SUMMARY
Examines the determinants of the locations of high-tech clusters in the United States. Summarizes the development of high-tech activities in Arizona, Metro Phoenix, and Metro Tucson relative to selected states and metropolitan areas.
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