The United States experienced a considerable increase in oil and natural gas extraction in recent years due to technological advancements including horizontal drilling and hydraulic fracturing. Increased energy development likely creates both benefits and costs, but the net effects for local...

Using the Synthetic Control Method (SCM) and a novel method for measuring changes in educational attainment we examine the link between educational attainment and shale oil and gas extraction for the states of Montana, North Dakota, and West Virginia. The three states examined are...

Fracking innovations revolutionized the United States oil and gas industry and facilitated a boom in energy production in states with oil and gas resources. This paper examines effects of oil and gas booms within a state on individual employment and earnings. To account for endogenous migration...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

This paper links between Beckerian literature that shows that marriage is a normal good with respect to male income and the literature that explores cultural changes as a result of exogenous events. I use the oil crisis of the 1970s as a positive shock on some males. The analyzed outcome is...

This paper studies the consequences of the buildup of a new economic sector - the Norwegian petroleum industry - on investment in human capital. We assess both short-term and long-term effects for a broad set of educational margins, by comparing individuals in regions exposed to the new sector...

While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability of future events, Manski (2004) has recently argued that there is little existing theory supporting this practice. We provide relevant analytic foundations, describing sufficient...

A growing proportion of the U.S. workforce will have been raised in disadvantaged environments that are associated with relatively high proportions of individuals with diminished cognitive and social skills. A cross-disciplinary examination of research in economics, developmental psychology, and...

Many literatures investigate the causal impact of income on economic outcomes, for example in the context of intergenerational transmission or well-being and health. Some studies have proposed to use employer wage differentials and in particular industry affiliation as an instrument for income....