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The Shale Oil Boom and the US Economy: Spillovers and Time-Varying Effects
| Content Provider | Scilit |
|---|---|
| Author | Bjørnland, Hilde C. Zhulanova, Julia |
| Copyright Year | 2019 |
| Description | Journal: SSRN Electronic Journal We analyze if the transmission of oil price shocks on the U.S. economy has changed with the shale oil boom. To do so, we put forward a framework that allows for spillovers between industries and learning by doing (LBD) over time. We identify these spillovers using a time-varying parameter factor-augmented vector autoregressive (VAR) model with both state level and country level data. In contrast to previous results, we find considerable changes in the way oil price shocks are transmitted to the U.S economy: there are now positive spillovers to non-oil investment, employment and production from an increase in the oil price - effects that were not present before the shale oil boom. |
| Related Links | https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2019-08/59_2019_bjornland_zhulanova.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3436499 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.3436499 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2019-08-13 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal Mathematical Social Sciences Shale Oil Boom Oil Prices Time-varying Factor-augmented Var Model Geographical Dispersion |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |
