The shale oil boom and the US economy: Spillovers and time‐varying effects
Hilde Bjørnland () and
Julia Skretting
Journal of Applied Econometrics, 2024, vol. 39, issue 6, 1000-1020
Abstract:
We provide new evidence that the transmission of oil price shocks to the US economy has changed with the shale oil boom. To show this, we develop a time‐varying parameter factor‐augmented vector autoregressive (FAVAR) model with a large data environment of state‐level, industry, and aggregate US data. The model effectively captures potential spillovers between oil and non‐oil industries, as well as variation over time. Specified in this way, we find that investment, income, industrial production, and (non‐oil) employment in most oil‐producing and some manufacturing‐intensive US states increase following an oil‐specific shock—effects that were not present before the shale oil boom.
Date: 2024
References: Add references at CitEc
Citations: View citations in EconPapers (2)
Downloads: (external link)
https://doi.org/10.1002/jae.3059
Related works:
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) 
Working Paper: The Shale Oil Boom and the U.S. Economy: Spillovers and Time-Varying Effects (2018) 
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:wly:japmet:v:39:y:2024:i:6:p:1000-1020
Ordering information: This journal article can be ordered from
http://www3.intersci ... e.jsp?issn=0883-7252
Access Statistics for this article
Journal of Applied Econometrics is currently edited by M. Hashem Pesaran
More articles in Journal of Applied Econometrics from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().