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Geographic Mobility and Consumer Financial Health: Evidence from Oil Production Boom Towns

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  • Rawley Heimer
  • Timothy Stehulak
  • Caitlin Treanor

Abstract

One way a household might handle financial distress is to relocate to another area that offers greater income opportunities. This article examines the impact of geographic mobility on consumer finances by focusing on the residents of ?boom towns??areas that saw a surge of growth in oil-drilling activity around 2010 and a bust thereafter. We find that residents who move after the bust experience stronger consumer financial health than residents who stay put.

Suggested Citation

  • Rawley Heimer & Timothy Stehulak & Caitlin Treanor, 2016. "Geographic Mobility and Consumer Financial Health: Evidence from Oil Production Boom Towns," Economic Commentary, Federal Reserve Bank of Cleveland, issue November.
  • Handle: RePEc:fip:fedcec:00058
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    File URL: https://www.clevelandfed.org/newsroom-and-events/publications/economic-commentary/2016-economic-commentaries/ec-201613-geographic-mobility-and-consumer-financial-health-oil-boom-towns.aspx
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    Cited by:

    1. Cookson, J. Anthony & Gilje, Erik P. & Heimer, Rawley Z., 2022. "Shale shocked: Cash windfalls and household debt repayment," Journal of Financial Economics, Elsevier, vol. 146(3), pages 905-931.

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    Keywords

    household income; relocation;

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