Unequal ground
Oil booms and income inequality in the USA
Bibliographic Data
| ID | 9721302 |
|---|---|
| Authors | Loujaina Abdelwahed (0000-0003-0419-1310, Cooper Union, corresponding author), Cole Campbell (Federal Communications Commission) |
| Year | 2024 |
| Volume | 91 |
| Issue | 363 |
| Pages | 880-910 |
| Publication date | 2024-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ecca.12517 |
| OpenAlex | W4392600291 |
| Language | EN |
| References cited | 39 |
This paper examines the impact of oil price and quantity shocks on income inequality in the USA. Using micro income data, we construct measures of pre‐tax money income inequality at the state level for the period 1980–2017. We find that a $10 increase in oil price increases inequality, measured by the ratio of pre‐tax income of the 90th percentile to 10th percentile (p90/p10), by 3.8 percentage points in states with high levels of oil endowments per capita. The increase in capital income to households at the top of the distribution drives the observed change in inequality. In addition to price shocks, we study the impact of quantity shocks that arise from oil discoveries. Quantity shocks have no effect on the overall income distribution
Adjusted gross income · Boom · Demographic economics · Distribution (mathematics) · Economic inequality · Economics · Gross income · Income distribution · Inequality · Labour economics · Monetary economics · Oil price · Per capita income · Percentile · Public economics · State income tax · Tax reform · Atmospheric and Environmental Gas Dynamics · Market Dynamics and Volatility · Mathematics · Natural Resources and Economic Development
Estimation and Inference of Impulse Responses by Local Projections
Dutch Disease or Agglomeration? The Local Economic Effects of Natural Resource Booms in Modern America
Structural Interpretation of Vector Autoregressions with Incomplete Identification
Not All Oil Price Shocks Are Alike
Import Competition and the Great US Employment Sag of the 2000s
Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence
Mostly Harmless Econometrics
Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data
The Local Impact of Mining on Poverty and Inequality
The Economic Aftermath of Resource Booms
The Long Term Consequences of Resource‐Based Specialisation
Income Inequality across Australian Regions during the Mining Boom
Escaping the Resource Curse
| Citation velocity | historical |
|---|---|
| Highly cited | No |