Oil & Gas Induced Economic Fluctuations and Self-Employment

Bulent Unel () and Gregory Upton

Departmental Working Papers from Department of Economics, Louisiana State University

Abstract: We investigate effects of plausibly exogenous variation in the value of oil and natural gas production in local economies on self-employment in the United States. We find that self-employment is procyclical, i.e. self-employment increases during a business cycle expansion and is reduced during a contraction. This effect comes entirely from unincorporated self-employed workers (in lieu of incorporated self-employment). We also find that self-employment explains an economically meaningful share of the employment adjustment; point estimates suggest that approximately 8 to 9 percent of the employment adjustment comes from unincorporated self-employed individuals - a group that makes up about 6 percent of total employment.

Date: 2021-11
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https://www.lsu.edu/business/economics/files/workingpapers/pap21_04.pdf (application/pdf)

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Journal Article: Oil & gas induced economic fluctuations and self-employment (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:lsu:lsuwpp:2021-04

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