This paper examines local labor market outcomes from an oil and gas boom in Texas. We examine two main outcomes across gender, race, and ethnicity: the probability of employment in the oil and gas industry and the log wages of workers employed outside the oil and gas industry. We find that men...

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 is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...

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...

There has been a widespread displacement of coal by natural gas as space heating and cooking technology in Turkey in the last two decades, triggered by the deployment of natural gas networks. In this paper, we examine the impact of this development on mortality among adults and the elderly. Our...

Recent research conclude that the GCC economies have failed to address the oil curse. They are far behind other countries, especially those in the G7, which possess huge reserves of oil wealth but have undertaken economic diversification to correct the ill-effects of an oil curse. This paper...

This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focuses on...

This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...