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The Alaska Permanent Fund and Dividend Distribution Program

Author

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  • J. Patrick O'Brien

    (University of Alaska-Fairbanks)

  • Dennis O. Olson

    (University of Louisville)

Abstract

The Alaska Permanent Fund and its associated dividend distribution program are a unique experiment in the intergenerational transfer of wealth and in the redistribution of public funds back to the private sector. This article provides an historic perspective for the establishment of the Alaska Permanent Fund and presents the economic rationales for the dividend distribution program. We argue that dividends in the form of direct cash payments to state residents made from the interest income of the fund have benefited currentAlaskans through higher personal income, higher employment, and mitigated recesscons. Future generations also may benefit from the dividend distribution program due to its role in reducing fiscal illusion and limiting current state spending.

Suggested Citation

  • J. Patrick O'Brien & Dennis O. Olson, 1990. "The Alaska Permanent Fund and Dividend Distribution Program," Public Finance Review, , vol. 18(2), pages 139-156, April.
    • Handle: RePEc:sae:pubfin:v:18:y:1990:i:2:p:139-156
    DOI: 10.1177/109114219001800201
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    References listed on IDEAS

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    1. Winer, Stanley L, 1983. "Some Evidence on the Effect of the Separation of Spending and Taxing Decisions," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 126-140, February.
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    2. Singh, Parvati & Gemmill, Alison & Bruckner, Tim-Allen, 2023. "Casino-based cash transfers and fertility among the Eastern Band of Cherokee Indians in North Carolina: A time-series analysis," Economics & Human Biology, Elsevier, vol. 51(C).
    3. Ioana Marinescu, 2018. "No Strings Attached: The Behavioral Effects of U.S. Unconditional Cash Transfer Programs," NBER Working Papers 24337, National Bureau of Economic Research, Inc.
    4. Meixing Dai & Nicolas Mazuy, 2017. "La faisabilité et les périls du financement du revenu universel," Bulletin de l'Observatoire des politiques économiques en Europe, Observatoire des Politiques Économiques en Europe (OPEE), vol. 36(1), pages 3-8, June.
    5. White Stuart, 2006. "Reconsidering the Exploitation Objection to Basic Income," Basic Income Studies, De Gruyter, vol. 1(2), pages 1-17, December.
    6. Damon Jones & Ioana Marinescu, 2022. "The Labor Market Impacts of Universal and Permanent Cash Transfers: Evidence from the Alaska Permanent Fund," American Economic Journal: Economic Policy, American Economic Association, vol. 14(2), pages 315-340, May.
    7. Christopher R. McIntosh & Neil A. Wilmot & Adrienne Dinneen & Jason F. Shogren, 2022. "Minnesota—too late for a Sovereign Wealth Fund?," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 35(1), pages 67-85, March.

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