Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution: Comment

• 成果类型: Article
• 署名作者: James, Alexander G.; Smith, Brock
• 署名单位: University of Alaska System; University of Alaska Anchorage; Montana State University System; Montana State University Bozeman
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20180888
• 发表日期: 2020
• 页码: 1905-1913
• 关键词: Boom; EMPLOYMENT

摘要

Feyrer, Mansur, and Sacerdote (2017) estimates the spatial dispersion of the effects of the recent shale-energy boom by unconditionally regressing income and employment on energy production at various levels of geographic aggregation. However, producing counties tend to be located near each other and receive inward spillovers from neighboring production. This inflates the estimated effect of own-county production and spatial aggregation does not address this. We propose an alternative estimation strategy that accounts for these spillovers and identify reduced propagation effects. The proposed estimation strategy can be applied more generally to estimate the dispersion of multiple, simultaneously occurring economic shocks.