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Lower oil prices and state employment

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Abstract

Even after two years of adjustment, it was apparent that the sharp drop in oil prices occurring during late 1985 and early 1986 would have a profound effect on the regional distribution of employment in the United States. In this paper, we develop and implement a procedure for quantifying the long‐term consequences of lower oil prices on employment in each of the 50 states. We use the estimates developed to determine how much of the variation in state employment growth during 1986 can be attributed to the oil price decline. We also use the estimates to gauge the feasibility of political action, such as an oil import tariff, to reverse the oil price decline.
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  • Stephen P. A. Brown & John K. Hill, 1987. "Lower oil prices and state employment," Working Papers 8706, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:feddwp:8706
    Note: Published as: Brown, S.P.A. and John K. Hill (1988), "Lower Oil Prices and State Employment," Contemporary Economic Policy 6 (3): 60-68.
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    Cited by:

    1. Hoag, John H. & Wheeler, Mark, 1996. "Oil price shocks and employment: the case of Ohio coal mining," Energy Economics, Elsevier, vol. 18(3), pages 211-220, July.
    2. Cole, Rebel A. & Gunther, Jeffery W., 1995. "Separating the likelihood and timing of bank failure," Journal of Banking & Finance, Elsevier, vol. 19(6), pages 1073-1089, September.
    3. Kristie M. Engemann & Michael T. Owyang & Howard J. Wall, 2014. "Where Is An Oil Shock?," Journal of Regional Science, Wiley Blackwell, vol. 54(2), pages 169-185, March.
    4. Douglas R. Bohi & John R. Powers, 1993. "Energy Price Shocks And Regional Output And Employment," The Review of Regional Studies, Southern Regional Science Association, vol. 23(2), pages 129-142, Fall.
    5. Stephen P. A. Brown & Mine K. Yücel, 1995. "Energy prices and state economic performance," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q II, pages 13-23.
    6. Mark C. Snead, 2009. "Are the energy states still energy states?," Economic Review, Federal Reserve Bank of Kansas City, vol. 94(Q IV), pages 43-68.

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