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The long-run vanity of Prudhoe Bay

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  • James, Alexander

Abstract

Upon the completion of the Trans-Alaska Pipeline System in 1977, Alaskan oil production surged, peaking in 1988. From 1988 onward, Alaskan oil production steadily declined. The temporal characteristics of the Alaskan oil boom make for an ideal case study of the economic effects of resource booms more generally. The boom generated significant short-run economic gains that were quickly diluted by inward migration. In the long run though, the income gains may have turned into losses. These results are robust to using a variety of comparison units, including a synthetic control.

Suggested Citation

  • James, Alexander, 2016. "The long-run vanity of Prudhoe Bay," Resources Policy, Elsevier, vol. 50(C), pages 270-275.
  • Handle: RePEc:eee:jrpoli:v:50:y:2016:i:c:p:270-275
    DOI: 10.1016/j.resourpol.2016.10.008
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Mouhcine Guettabi & Alexander James, 2017. "Who Benefits From an Oil Boom? Evidence From a Unique Alaskan Data Set," Working Papers 2017-04, University of Alaska Anchorage, Department of Economics.
    2. repec:eee:enepol:v:117:y:2018:i:c:p:14-24 is not listed on IDEAS
    3. Brown, Jason & Fitzgerald, Timothy & Weber, Jeremy G., 2016. "Asset Ownership, Windfalls, and Income: Evidence from Oil and Gas Royalties," Research Working Paper RWP 16-12, Federal Reserve Bank of Kansas City.

    More about this item

    Keywords

    Oil Boom; Alaska; Resource Curse;

    JEL classification:

    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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