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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.
An update to the November 2023 paper that presented data through 2022, estimates are presented of the number of ASU graduates working in Arizona, as well as their average wage, aggregate wages, and tax payments. Estimates are made for each year from 2012 through 2023.
Examines Arizona state government finance over time; compares Arizona to the nation and to other states on combined state and local government finance. Investigates public education finance and educational outcomes. Considers public-sector needs and suggests ways to boost revenue.
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.