economy

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ISER Authors in Economic Development Journal

A recent issue of the Economic Development Journal is devoted to articles about Alaska’s economy and includes three by ISER faculty members Gunnar Knapp, Bob Loeffler, and Mouhcine Guettabi. The journal is published by the International Economic Development Council (IEDC), and this issue was released ahead of IEDC’s annual conference, held in Anchorage in October. The articles by ISER faculty are now available on the ISER website, with permission of the publisher.

Resource Revenues and Fiscal Sustainability: Lessons of the Alaska Disconnect (PDF, 522.9KB), by Gunnar Knapp, ISER director and professor of economics

Mining and Sustainable Communities: A Case Study of the Red Dog Mine (PDF, 482KB), by Bob Loeffler, ISER visiting professor of public policy

The Determinants of Small Business Success in Alaska: A Focus on the Creative Class (PDF, 240.6KB), by Mouhcine Guettabi, ISER assistant professor of economics

Read more to find summaries of the articles.

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A Free Public Forum, October 4: Less Money and Higher Costs

Alaska Common Ground and ISER recently sponsored a non-partisan public forum, with analysts from government, the University of Alaska, and private industry discussing choices the state government will likely face as pressure on the state budget increases. Oil from Alaska’s North Slope has supported the state’s government and economy for decades. But oil production has been dropping—at the same time population and state spending have been growing and the government’s debt obligations, pension liabilities, and other costs have been increasing. Now you can watch panel discussions from the October 4 forum on Alaska Common Ground's website.

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A Brief Introduction to Alaska's Economy

On June 14, UAA hosted a roundtable discussion about the new national strategy for the Arctic region, which the Obama administration recently announced. That discussion brought representatives from the Obama administration and federal agencies to Anchorage to talk with with local and state officials, business people, and private citizens. To help federal officials better understand Alaska's economy, Gunnar Knapp, ISER's interim director, made a presentation, A Brief Introduction to Alaska's Economy. Download the presentation (PDF, 7.4MB) with the accompanying audio recording (MP3, 11.83MB).

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How Do Higher Fuel Prices Affect Alaska's Transportation System and Economy?

Alaska relies much more on air and water transportation than the Lower 48 states do, so it's especially vulnerable to the kinds of fuel price spikes that happened in mid-2008 and again between 2009 and 2010. A new report analyzes how higher fuel prices affect the costs of transportation in the state and work their way through the economy. It is the first study of this kind for Alaska. The authors are ISER economists Ginny Fay, Tobias Schwörer, Mouhcine Guettabi, and Jeffrey Armagost. 

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Managing Alaska’s Petroleum Nest Egg for Maximum Sustainable Yield

A new analysis by Scott Goldsmith, professor of economics at ISER, estimates that Alaska’s state government currently has a petroleum nest egg of about $155 billion, including both the value of revenues from oil and gas yet to be produced and money already in the bank. The state can afford to spend about $6.2 billion a year from the earnings of that nest egg for decades to come, taking population growth into account. But this fiscal year, the state is expected to spend close to $7 billion—shrinking the nest egg for coming generations. 

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Research Matters #52: Oil Pumps Alaska's Economy to Twice the Size—But What's Ahead?

Think about this: if oil had never been discovered on the North Slope, Alaska's economy today would be about half as big. And to keep the economy healthy as time goes on, Alaska needs new oil production: nothing else—including North Slope natural gas—can replace oil in the state's economy. These are the findings of a new paper by Scott Goldsmith, professor of economics at ISER.