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Asymmetries In The Responses Of Regional Job Flows To Oil Price Shocks
| Content Provider | Semantic Scholar |
|---|---|
| Author | Karaki, Mohamad B. |
| Copyright Year | 2017 |
| Abstract | This paper studies the effect of oil price innovations on manufacturing job flows across U.S. states. First, I estimate a nonlinear structural equation model and compute impulse response functions by Monte Carlo integration. I find asymmetries in the responses of job flows to positive and negative oil price innovations. Yet, these asymmetries do not pass a test of symmetry on the impulse responses, especially after accounting for data mining. Third, I use a test for the absence of job reallocation to evaluate whether an unexpected increase in the real price of oil price triggers an important change in job reallocation. I find that oil price shocks have limited regional allocative effects. (JEL E24, E32, Q43) |
| Starting Page | 1827 |
| Ending Page | 1845 |
| Page Count | 19 |
| File Format | PDF HTM / HTML |
| DOI | 10.1111/ecin.12502 |
| Volume Number | 56 |
| Alternate Webpage(s) | https://laur.lau.edu.lb:8443/xmlui/bitstream/handle/10725/6471/Asymmetries.pdf?isAllowed=y&sequence=3 |
| Alternate Webpage(s) | https://doi.org/10.1111/ecin.12502 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
