Content-Length: 1638 | pFad | http://web.archive.org/web/20180616051845/http://www.nber.org/papers/w24695.ris
TY - JOUR AU - Clay, Karen AU - Portnykh, Margarita TI - The Short-Run and Long-Run Effects of Resources on Economic Outcomes: Evidence From the United States 1936-2015 JF - National Bureau of Economic Research Working Paper Series VL - No. 24695 PY - 2018 Y2 - June 2018 DO - 10.3386/w24695 UR - http://www.nber.org/papers/w24695 L1 - http://www.nber.org/papers/w24695.pdf N1 - Author contact info: Karen Clay Heinz College Carnegie Mellon University 5000 Forbes Avenue Pittsburgh, PA 15213 Tel: 412/268-4197 Fax: 412/268-7357 E-Mail: kclay@andrew.cmu.edu Margarita Portnykh Heinz College Carnegie Mellon University 5000 Forbes Avenue Pittsburgh, PA 15213 E-Mail: mportnyk@andrew.cmu.edu AB - This paper draws on a new state-level panel dataset and a model of domestic Dutch disease to examine the short-run and long-run effects of oil & natural gas, coal, and agricultural land endowments on state economies during 1936-2015. Using a flexible shift-share estimation approach, where the shift is national resource employment and the share is state resource endowment, we find that different resources had different short-run effects in different time periods, across increases and decreases in resource employment, and across different outcomes. Using long differences, we find that long-run population growth was an important margin of adjustment over 1936-2015. States with larger coal and agricultural endowments per square mile experienced significantly slower population growth than states with smaller endowments per square mile. Resource endowments had no effect on long-run growth in per capita income. ER -Fetched URL: http://web.archive.org/web/20180616051845/http://www.nber.org/papers/w24695.ris
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