Full Citation

Title: Are Resource Booms a Blessing or a Curse? Evidence from People (not Places)

Citation Type: Conference Paper

Publication Year: 2019

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Abstract: We estimate the short and long-run effects of resource booms on people (rather than places) using household data. We find evidence of positive effects during the boom and negative effects during the bust. The cumulative effect on income was arguably negative when restricting the sample to observations from prime working years (<55) and unambiguously positive otherwise. We reconcile the difference by showing that the boom delayed retirement. The evidence suggests the boom was a curse for the average household. It failed to generate clear-cut income gains during prime working years and its volatility caused costly income-smoothing adjustments later in life.

Url: https://appam.confex.com/appam/2019/webprogram/Paper32170.html

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Authors: Jacobsen, Grant D.

Conference Name: 41st Annual Fall Research Conference

Publisher Location: Denver, CO

Data Collections: IPUMS USA

Topics: Housing and Segregation, Other

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