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ECIN Replication Package for "The Economic Impact of Uncertainty about U.S. Regulations of the Energy Sector"
Principal Investigator(s): View help for Principal Investigator(s) Xiaohan Ma, Texas Tech University; Zhoudan Xie, George Washington University
Version: View help for Version V4
| Name | File Type | Size | Last Modified |
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| empirical_analysis | 03/19/2025 03:41:PM | ||
| measure_uncertainty | 01/05/2025 11:17:AM | ||
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application/pdf | 1 MB | 03/19/2025 11:40:AM |
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text/plain | 2.8 KB | 01/05/2025 06:17:AM |
Project Citation:
Ma, Xiaohan, and Xie, Zhoudan. ECIN Replication Package for “The Economic Impact of Uncertainty about U.S. Regulations of the Energy Sector.” Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-03-19. https://doi.org/10.3886/E214881V4
Project Description
Summary:
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This project contains the replication package for the paper titled "The
Economic Impact of Uncertainty about U.S. Regulations of the Energy Sector."
Abstract: This paper examines the economic impact of uncertainty surrounding U.S. regulatory policies of the energy sector. We first construct a monthly-frequency measure of regulatory uncertainty related to oil and gas production using natural language processing on over 600,000 U.S. newspaper articles published from 1985 to 2021. We then conduct empirical analysis via structural VAR models with the constructed oil regulatory uncertainty index, oil market variables, and aggregate economic data. The impulse response functions suggest that an increase in oil regulatory uncertainty reduces oil production and drilling activity and negatively affects national and state-level economic outcomes.
Abstract: This paper examines the economic impact of uncertainty surrounding U.S. regulatory policies of the energy sector. We first construct a monthly-frequency measure of regulatory uncertainty related to oil and gas production using natural language processing on over 600,000 U.S. newspaper articles published from 1985 to 2021. We then conduct empirical analysis via structural VAR models with the constructed oil regulatory uncertainty index, oil market variables, and aggregate economic data. The impulse response functions suggest that an increase in oil regulatory uncertainty reduces oil production and drilling activity and negatively affects national and state-level economic outcomes.
Scope of Project
Subject Terms:
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uncertainty;
regulatory policy;
energy sector;
economic activity;
textual analysis;
structural VAR
JEL Classification:
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C55 Large Data Sets: Modeling and Analysis
C82 Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
E23 Macroeconomics: Production
Q40 Energy: General
C55 Large Data Sets: Modeling and Analysis
C82 Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
E23 Macroeconomics: Production
Q40 Energy: General
Manuscript Number:
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ECIN-Dec-2023-0558
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