Who Wins in an Energy Boom? Evidence from Wage Rates and Housing

Grant Jacobsen

No 17-271, Upjohn Working Papers from W.E. Upjohn Institute for Employment Research

Abstract: This paper presents evidence on the distributional effects of energy extraction by examining the recent U.S. energy boom. The boom increased local wage rates in almost every major occupational category. The increase occurred regardless of whether the occupation experienced a corresponding change in employment, suggesting a more competitive labor market that benefited local workers. Local housing values and rental prices both increased, thereby benefiting landowners. For renters, the increase in prices was completely offset by a contemporaneous increase in income. The results indicate that bans on drilling have negative monetary consequences for a large share of local residents.

Keywords: NAFTA; oil; natural gas; hydraulic fracturing; fracking; resource extraction; labor market effects; resource curse; Dutch disease; wage rates; housing values; rental prices (search for similar items in EconPapers)
JEL-codes: J23 Q33 R31 (search for similar items in EconPapers)
Date: 2016-11
New Economics Papers: this item is included in nep-dcm, nep-ene and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: WHO WINS IN AN ENERGY BOOM? EVIDENCE FROM WAGE RATES AND HOUSING (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:upj:weupjo:17-271

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