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The Energy Boom and Manufacturing in the United States

Author

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  • William R. Melick

Abstract

This paper examines the response of U.S. manufacturers to changes in competitiveness brought about by movements in the price of natural gas. I estimate the response of various measures of manufacturing activity using panel regression methods across roughly 80 industries that allow each industry's response to vary with its energy intensity. These estimates suggest that the fall in the price of natural gas since 2006 is associated with a 2 to 3 percent increase in activity for the entire manufacturing sector, with much larger effects of 30 percent or more for the most energy intensive industries.

Suggested Citation

  • William R. Melick, 2014. "The Energy Boom and Manufacturing in the United States," International Finance Discussion Papers 1108, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgif:1108
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    File URL: http://www.federalreserve.gov/pubs/ifdp/2014/1108/ifdp1108.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Le secteur manufacturé américain connaît-il une renaissance ?
      by ? in D'un champ l'autre on 2014-09-09 03:34:00

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    Cited by:

    1. Mar Reguant & Meredith Fowlie, 2017. "Measuring and Mitigating Leakage Risk," 2017 Meeting Papers 383, Society for Economic Dynamics.

    More about this item

    Keywords

    Manufacturing; natural gas;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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