The Short-Run and Long-Run Effects of Resources on Economic Outcomes: Evidence From the United States 1936-2015 / Karen Clay, Margarita Portnykh.

Format:

Book

Author/Creator:

Clay, Karen.

Contributor:

National Bureau of Economic Research.

Portnykh, Margarita.

Series:

Working Paper Series (National Bureau of Economic Research) no. w24695.

NBER working paper series no. w24695

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Short-Run and Long-Run Effects of Resources on Economic Outcomes

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2018.

Summary:

This paper draws on a new state-level panel dataset and a model of domestic Dutch disease to examine the short-run and long-run effects of oil & natural gas, coal, and agricultural land endowments on state economies during 1936-2015. Using a flexible shift-share estimation approach, where the shift is national resource employment and the share is state resource endowment, we find that different resources had different short-run effects in different time periods, across increases and decreases in resource employment, and across different outcomes. Using long differences, we find that long-run population growth was an important margin of adjustment over 1936-2015. States with larger coal and agricultural endowments per square mile experienced significantly slower population growth than states with smaller endowments per square mile. Resource endowments had no effect on long-run growth in per capita income.

Notes:

Print version record

June 2018.