.

Oil prices and state unemployment

LAUR Repository

Show simple item record

dc.contributor.author Karaki, Mohamad B.
dc.date.accessioned 2018-03-15T07:07:53Z
dc.date.available 2018-03-15T07:07:53Z
dc.date.copyright 2018 en_US
dc.identifier.issn 1944-9089 en_US
dc.identifier.uri http://hdl.handle.net/10725/7204 en_US
dc.description.abstract This paper studies the effect of oil price shocks on U.S. state-level unemployment rates. First, using a test of symmetry, I evaluate whether the relationship between oil prices and state unemployment rates is symmetric. I find no evidence against the null of symmetry after accounting for data mining. Second, I use a symmetric structural VAR model to analyze the effect of oil supply shocks, aggregate demand shocks and oil-specific demand shocks on state unemployment. I find that an adverse supply shock triggers increases in unemployment, whereas a positive aggregate demand shock reduces the unemployment rate across most U.S. states. I also show that oil-specific demand shocks have little effect on state unemployment. Finally, I dig into the historical contribution of the various oil shocks to the changes in state unemployment rates during the shale boom period. I find that aggregate demand shocks contributed the most to the change of unemployment. en_US
dc.language.iso en en_US
dc.title Oil prices and state unemployment en_US
dc.type Article en_US
dc.description.version Published en_US
dc.author.school SOB en_US
dc.author.idnumber 201304845 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.relation.journal The Energy Journal en_US
dc.journal.volume 39 en_US
dc.journal.issue 3 en_US
dc.keywords Oil supply shocks en_US
dc.keywords Oil demand shocks en_US
dc.keywords State unemployment en_US
dc.identifier.doi http://dx.doi.org/10.5547/01956574.39.3.mkar en_US
dc.identifier.ctation Karaki, M. B. (2018). Oil Prices and State Unemployment. The Energy Journal, 39(3). en_US
dc.author.email mkaraki@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php en_US
dc.identifier.url https://www.iaee.org/energyjournal/article/3075 en_US
dc.orcid.id https://orcid.org/0000-0003-0925-9054
dc.author.affiliation Lebanese American University en_US


Files in this item

Files Size Format View

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

Search LAUR


Advanced Search

Browse

My Account