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The Economic Aftermath of Resource Booms: Evidence from Boomtowns in the American West
RFF Academic Seminar
Presenter
Dominic Parker,
Associate Professor, Agricultural and Applied Economics, University of Wisconsin, Madison
Abstract
The current U.S. oil and gas boom is injecting labor, capital, and revenue into communities near reserves. Will these communities be cursed with lower long run incomes in the wake of the boom? We study the oil boom-and-bust cycle of the 1970s and 1980s to gain insights. Using annual data on drilling to identify western boom-and-bust counties, we find substantial positive local employment and income effects during the boom. In the aftermath of the bust, however, we find that incomes per capita decreased and unemployment compensation payments increased relative to what they would have been if the boom had not occurred.
Date
Thursday, April 17, 2014
10:30 a.m. - 12:00 p.m. EDT
A light lunch will be provided.
Location
7th Floor Conference Room
All seminars will be in the 7th Floor Conference Room at RFF, 1616 P Street NW unless otherwise noted. Attendance is open, but involves pre-registration no later than two days prior to the event. For questions and to register to an event, please contact Karen Furman at furman@rff.org. Updates to our academic seminars schedule will be posted at www.rff.org/academicseminarseries.
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