The Shale Oil Boom and the U.S. Economy: Spillovers and Time-Varying Effects

Hilde C. Bjørnland () and Julia Zhulanova ()
Authors registered in the RePEc Author Service: Hilde Christiane Bjørnland ()

No No 8/2018, Working Papers from Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School

Abstract: We analyze if the transmission of oil price shocks on the U.S. economy has changed as a result of the shale oil boom. To do so we allow for spillovers at the state level, as well as aggregate country level effects. We identify and quantify these spillovers using a factor-augmented vector autoregressive (VAR) model, allowing for time-varying changes. In contrast to previous results, we find considerable changes in the way oil price shocks are transmitted: there are now positive spillovers to non-oil investment, employment and production in many U.S. states from an increase in the oil price - effects that were not present before the shale oil boom.

Keywords: Shale oil boom; FAVAR model; Time-varying changes; Geographical dispersion (search for similar items in EconPapers)
Pages: 66 pages
Date: 2018-10
New Economics Papers: this item is included in nep-ene, nep-ets and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Downloads: (external link)
https://brage.bibsys.no/xmlui/bitstream/handle/112 ... quence=1&isAllowed=y
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to brage.bibsys.no:443 (nodename nor servname provided, or not known)

Related works:
Journal Article: The shale oil boom and the US economy: Spillovers and time‐varying effects (2024)
Working Paper: The shale oil boom and the U.S. economy: Spillovers and time-varying effects (2019)
Working Paper: The shale oil boom and the US economy: Spillovers and time-varying effects (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bny:wpaper:0066

Access Statistics for this paper

More papers in Working Papers from Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School Contact information at EDIRC.
Bibliographic data for series maintained by Helene Olsen ().