Replication data for: The Effects of the Real Oil Price on Regional Wage Dispersion
Principal Investigator(s): View help for Principal Investigator(s) Matthias Kehrig; Nicolas L. Ziebarth
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| EPWD_Replication | 10/12/2019 07:52:PM | ||
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text/plain | 14.6 KB | 10/12/2019 03:52:PM |
Project Citation:
Kehrig, Matthias, and Ziebarth, Nicolas L. Replication data for: The Effects of the Real Oil Price on Regional Wage Dispersion. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114115V1
Project Description
Summary:
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We find that oil supply shocks decrease average real wages, particularly skilled wages, and increase wage dispersion across regions, particularly unskilled wage dispersion. In a model with spatial energy intensity differences and nontradables, labor demand shifts, while explaining the response of average wages to oil supply shocks, have counterfactual implications for the response of wage dispersion. Only an additional response in labor supply can explain this latter fact, highlighting the importance of general equilibrium effects in a spatial context. We provide additional empirical evidence of regionally directed worker reallocation and housing prices consistent with our spatial model. Finally, we show that a calibrated version of our model can quantitatively match the estimated effects of oil supply shocks.
Scope of Project
JEL Classification:
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E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J22 Time Allocation and Labor Supply
J23 Labor Demand
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
Q35 Hydrocarbon Resources
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
E24 Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
J22 Time Allocation and Labor Supply
J23 Labor Demand
J24 Human Capital; Skills; Occupational Choice; Labor Productivity
J31 Wage Level and Structure; Wage Differentials
Q35 Hydrocarbon Resources
R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
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