Where do jobs go when oil prices drop?
In this paper, we estimate a factor augmented vector autoregressive (FAVAR) model to investigate the effect of oil price shocks on total private job flows as well as on industry-level job creation and destruction. Following an unexpected oil price drop in the first year, we find that in oil and gas...
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| المؤلف الرئيسي: | |
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| مؤلفون آخرون: | , |
| التنسيق: | article |
| منشور في: |
2017
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| الوصول للمادة أونلاين: | http://hdl.handle.net/10725/6468 https://doi.org/10.1016/j.eneco.2016.02.006 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0140988316300196 |
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| _version_ | 1864513479849803776 |
|---|---|
| author | Karaki, Mohamad B. |
| author2 | Herrera, Ana Maria Rangaraju, Sandeep Kumar |
| author2_role | author author |
| author_facet | Karaki, Mohamad B. Herrera, Ana Maria Rangaraju, Sandeep Kumar |
| author_role | author |
| dc.creator.none.fl_str_mv | Karaki, Mohamad B. Herrera, Ana Maria Rangaraju, Sandeep Kumar |
| dc.date.none.fl_str_mv | 2017-11-01T13:11:54Z 2017-11-01T13:11:54Z 2017 2017-11-01 |
| dc.identifier.none.fl_str_mv | 1873-6181 http://hdl.handle.net/10725/6468 https://doi.org/10.1016/j.eneco.2016.02.006 Herrera, A. M., Karaki, M. B., & Rangaraju, S. K. (2017). Where do jobs go when oil prices drop?. Energy Economics, 64, 469-482. http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0140988316300196 |
| dc.language.none.fl_str_mv | en |
| dc.relation.none.fl_str_mv | Energy Economics |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.title.none.fl_str_mv | Where do jobs go when oil prices drop? |
| dc.type.none.fl_str_mv | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | In this paper, we estimate a factor augmented vector autoregressive (FAVAR) model to investigate the effect of oil price shocks on total private job flows as well as on industry-level job creation and destruction. Following an unexpected oil price drop in the first year, we find that in oil and gas extraction and support activities for mining exhibit a reduction in job creation and an increase in job destruction. Instead, industries in construction, manufacturing and services exhibit an increase in the net employment change. An unexpected decline in the real oil price slows down the pace of gross job reallocation. We demonstrate that the increase (decrease) in private job destruction (creation) observed during the first year is primarily driven by the response of closing (expanding) firms in services and manufacturing. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | LAURepo_af1ebf5e5a6b8c39362febff601df943 |
| identifier_str_mv | 1873-6181 Herrera, A. M., Karaki, M. B., & Rangaraju, S. K. (2017). Where do jobs go when oil prices drop?. Energy Economics, 64, 469-482. |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/6468 |
| publishDate | 2017 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Where do jobs go when oil prices drop?Karaki, Mohamad B.Herrera, Ana MariaRangaraju, Sandeep KumarIn this paper, we estimate a factor augmented vector autoregressive (FAVAR) model to investigate the effect of oil price shocks on total private job flows as well as on industry-level job creation and destruction. Following an unexpected oil price drop in the first year, we find that in oil and gas extraction and support activities for mining exhibit a reduction in job creation and an increase in job destruction. Instead, industries in construction, manufacturing and services exhibit an increase in the net employment change. An unexpected decline in the real oil price slows down the pace of gross job reallocation. We demonstrate that the increase (decrease) in private job destruction (creation) observed during the first year is primarily driven by the response of closing (expanding) firms in services and manufacturing.PublishedN/A2017-11-01T13:11:54Z2017-11-01T13:11:54Z20172017-11-01Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article1873-6181http://hdl.handle.net/10725/6468https://doi.org/10.1016/j.eneco.2016.02.006Herrera, A. M., Karaki, M. B., & Rangaraju, S. K. (2017). Where do jobs go when oil prices drop?. Energy Economics, 64, 469-482.http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.phphttp://www.sciencedirect.com/science/article/pii/S0140988316300196enEnergy Economicsinfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/64682021-03-19T09:10:12Z |
| spellingShingle | Where do jobs go when oil prices drop? Karaki, Mohamad B. |
| status_str | publishedVersion |
| title | Where do jobs go when oil prices drop? |
| title_full | Where do jobs go when oil prices drop? |
| title_fullStr | Where do jobs go when oil prices drop? |
| title_full_unstemmed | Where do jobs go when oil prices drop? |
| title_short | Where do jobs go when oil prices drop? |
| title_sort | Where do jobs go when oil prices drop? |
| url | http://hdl.handle.net/10725/6468 https://doi.org/10.1016/j.eneco.2016.02.006 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php http://www.sciencedirect.com/science/article/pii/S0140988316300196 |