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Energy prices and state economic performance

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  • Stephen P.A. Brown
  • Mine K. Yücel

Abstract

Changes in energy prices have had sizable but differing effects on economic activity across the United States. The composition of each state's economy largely determines how its employment responds to changes in energy prices. In this article, Stephen Brown and Mine Yucel use simulations based on input-output analysis to assess the long-term consequences of changing oil prices on employment in each state in 1982, 1992, and 2000. Brown and Yucel find that because state economies are becoming more similar in their composition, the variation across states in the response to changing oil prices is narrowing. The authors' findings suggest that the grounds for regional divisions in the debate over national energy policy have lessened since the early 1980s and will continue to do so throughout the remainder of the 1990s.

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File URL: http://www.dallasfed.org/assets/documents/research/er/1995/er9502b.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Dallas in its journal Economic and Financial Policy Review.

Volume (Year): (1995)
Issue (Month): Q II ()
Pages: 13-23

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Handle: RePEc:fip:fedder:y:1995:i:qii:p:13-23

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Keywords: Power resources - Prices ; State finance;

References

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  1. Robert J. Barro & Xavier Sala-i-Martin, 1991. "Convergence across States and Regions," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 107-182.
  2. S. P. A. Brown & John K. Hill, 1988. "Lower Oil Prices And State Employment," Contemporary Economic Policy, Western Economic Association International, vol. 6(3), pages 60-68, 07.
  3. Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Convergence," Journal of Political Economy, University of Chicago Press, vol. 100(2), pages 223-51, April.
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Citations

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Cited by:
  1. Stephen P. A. Brown & Mine K. Yücel, 2001. "Energy prices and aggregate economic activity: an interpretive survey," Working Papers 0102, Federal Reserve Bank of Dallas.
  2. Mark A. Wynne & John Thompson, 2000. "The new paradigm in Europe: is Goldilocks going global?," Southwest Economy, Federal Reserve Bank of Dallas, issue Sep, pages 1-6.
  3. Engemann, Kristie & Owyang, Michael T. & Wall, Howard J., 2011. "Where is an oil shock?," MPRA Paper 31383, University Library of Munich, Germany.
  4. William A. Testa & Thomas A. Klier & Richard Mattoon, 1997. "Reversal of fortune: understanding the Midwest recovery," Economic Perspectives, Federal Reserve Bank of Chicago, issue Jul, pages 2-17.
  5. Jason L. Saving & W. Michael Cox, 2000. "Some pleasant economic side effects," Southwest Economy, Federal Reserve Bank of Dallas, issue Jul, pages 7-9.
  6. Stephen P. A. Brown, 1998. "Global warming policy: some economic implications," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 26-35.
  7. Thomas Garrett & Gary Wagner & David Wheelock, 2007. "Regional disparities in the spatial correlation of state income growth, 1977–2002," The Annals of Regional Science, Springer, vol. 41(3), pages 601-618, September.
  8. William C. Gruben, 2000. "US-China trade relations: the best of both worlds," Southwest Economy, Federal Reserve Bank of Dallas, issue Jul, pages 10.
  9. Cletus C. Coughlin & Patricia S. Pollard, 2000. "State exports and the Asian crisis," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 3-14.
  10. Stephen P.A. Brown & Hillard G. Huntington, 2003. "Terms of trade and OECD policies to mitigate global climate change," Economic and Financial Policy Review, Federal Reserve Bank of Dallas.

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