Skip to main content

Main menu

  • Home
  • Content
    • Current
    • Ahead of print
    • Archive
    • Supplementary Material
  • Info for
    • Authors
    • Subscribers
    • Institutions
    • Advertisers
  • About Us
    • About Us
    • Editorial Board
  • Connect
    • Feedback
    • Help
    • Request JHR at your library
  • Alerts
  • Free Issue
  • Special Issue
  • Other Publications
    • UWP

User menu

  • Register
  • Subscribe
  • My alerts
  • Log in
  • My Cart

Search

  • Advanced search
Journal of Human Resources
  • Other Publications
    • UWP
  • Register
  • Subscribe
  • My alerts
  • Log in
  • My Cart
Journal of Human Resources

Advanced Search

  • Home
  • Content
    • Current
    • Ahead of print
    • Archive
    • Supplementary Material
  • Info for
    • Authors
    • Subscribers
    • Institutions
    • Advertisers
  • About Us
    • About Us
    • Editorial Board
  • Connect
    • Feedback
    • Help
    • Request JHR at your library
  • Alerts
  • Free Issue
  • Special Issue
  • Follow uwp on Twitter
  • Follow JHR on Bluesky
Research ArticleArticles

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

Grant D. Jacobsen, Dominic P. Parker and Justin B. Winikoff
Published online before print February 10, 2021, 0320-10761R1; DOI: https://doi.org/10.3368/jhr.58.4.0320-10761R1
Grant D. Jacobsen
Grant Jacobsen is an associate professor in the School of Planning, Public Policy, and Management at the University of Oregon.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
Dominic P. Parker
Dominic Parker is an associate professor in the Department of Agricultural and Applied Economics at the University of Wisconsin-Madison.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: [email protected]
Justin B. Winikoff
Justin Winikoff is an economist at the USDA Economic Research Service.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • Article
  • Figures & Data
  • Supplemental
  • Info & Metrics
  • References
  • PDF
Loading

References

    1. Acemoglu, D.,
    2. Finkelstein, A., and
    3. Notowidigdo, M.J.
    2013. “Income and health spending: evidence from oil price shocks.” Review of Economics and Statistics 95(4): 1079-1095.
    OpenUrlCrossRef
    1. Allcott, H. and
    2. Keniston, D.
    2017. “Dutch Disease or Agglomeration? The Local Economic Effects of Natural Resource Booms in Modern America.” Review of Economic Studies 85: 695-731.
    OpenUrl
    1. Altonji, J.G.,
    2. Anthony, A.,
    3. Smith, J., and
    4. Vidangos, I.
    2013. “Modeling Earnings Dynamics.” Econometrica 81(4):1395-1454.
    OpenUrl
    1. Aragón, F.M.,
    2. Chuhan-Pole, P., and
    3. Land, B.C.
    2015. “The Local Economic Impacts of Resource Abundance: What Have we Learned?” World Bank Policy Research Working Paper 7263.
    1. Aragón, F.M. and
    2. Rud, J.P.
    2013. “Natural Resources and Local Communities: Evidence from a Peruvian Gold Mine.” American Economic Journal: Economic Policy 5(2): 1-25.
    OpenUrl
    1. Bartik, A.W.,
    2. Currie, J.,
    3. Greenstone, M., and
    4. Knittel, C.R.
    2017. “The Local Economic and Welfare Consequences of Hydraulic Fracturing.” American Economic Journal: Applied Economics, in press.
    1. Baumeister, C. and
    2. Kilian, L.
    2016. “Forty Years of Oil Price Fluctuations: Why the Price of Oil May Still Surprise Us.” Journal of Economic Perspectives 30(1): 139-160.
    OpenUrl
    1. Begley, J. and
    2. Chan, S.
    2018. “The Effect of Housing Wealth Shocks on Work and Retirement Decisions.” Regional Science and Urban Economics 73(C): 180-195.
    OpenUrl
    1. Black, D.,
    2. McKinnish, T., and
    3. Sanders, S.
    2005a. “The Economic Impact of the Coal Boom and Bust.” The Economic Journal 115(April): 449-476.
    OpenUrl
    1. Black, D.,
    2. McKinnish, T., and
    3. Sanders, S.
    2005b. “Tight Labor Markets and the Demand for Education: Evidence from the Coal Boom and Bust.” Industrial and Labor Relations Review 59(1): 3-16.
    OpenUrlCrossRef
    1. Boomhower, J.
    2019. “Drilling Like There’s No Tomorrow: Bankruptcy, Insurance, and Environmental Risk.” American Economic Review 109(2): 391-426.
    OpenUrl
    1. Brown, J.P.
    2020. “Response of Consumer Debt to Income Shocks: The Case of Energy Booms and Busts.” Journal of Money, Credit and Banking, in press
    1. Brown, J.P.,
    2. Fitzgerald, T., and
    3. Weber, J.G.
    2016. “Capturing Rents from Natural Resource Abundance: Private Royalties from U.S. Onshore Oil and Gas Production.” Resource and Energy Economics 46: 23-38.
    OpenUrl
    1. Caliendo, F.N.,
    2. Casanova, M.,
    3. Gorry, A., and
    4. Slavov, S.
    2016. “The Welfare Cost of Retirement Uncertainty.” NBER Working Paper 22609.
    1. Carrington, W.J.
    1996. “The Alaskan Labor Market during the Pipeline Era.” Journal of Political Economy 104(1): 186-218.
    OpenUrlCrossRef
    1. Caselli, F. and
    2. Michaels, G.
    2013. “Do Oil Windfalls Improve Living Standards? Evidence from Brazil.” American Economic Journal: Applied Economics (5)1: 208-238.
    OpenUrl
    1. Charles, K.K.,
    2. Hurst, E., and
    3. Notowidigdo, M.J.
    2018. “Housing Booms and Busts, Labor Market Opportunities, and College Attendance.” American Economic Review 108(10): 2947-2994.
    OpenUrl
    1. Clay, K. and
    2. Portnykh, M.
    2018. “The Short-run and Long-run Effects of Resources on Economic Outcomes: Evidence from the United States 1936-2015.” NBER Working Paper No. 24695.
    1. Coile, C.
    2015. “Economic Determinants of Workers’ Retirement Decisions.” Journal of Economic Surveys 29(4): 830-853.
    OpenUrlCrossRef
    1. Coile, C.C. and
    2. Levine, P.B.
    2007. “Labor Market Shocks and Retirement: Do Government Programs Matter?” Journal of Public Economics 91(10): 1902-1919.
    OpenUrlCrossRefWeb of Science
    1. Cotet, A.M. and
    2. Tsui, K.
    , 2013. “Oil, Growth, and Health: What Does the Cross-Country Evidence Really Show.” Scandinavian Journal of Economics 115(4): 1107–1137.
    OpenUrl
    1. Deller, S.C.,
    2. Tsai, T.,
    3. Marcouiller, D.W., and
    4. English, D.B.K.
    2001. “The Role of Amenities and Quality of Life in Rural Economic Growth.” American Journal of Agricultural Economics 83: 352-365.
    OpenUrlCrossRefWeb of Science
    1. Deacon, R.
    2011. “The Political Economy of the Natural Resource Curse: A Survey of Theory and Evidence.” Foundations and Trends in Microeconomics 7(2): 111-2016.
    OpenUrl
    1. Farah, N.
    2019. “The Effects of Hydraulic Fracturing on Agricultural Productivity.” Unpublished.
    1. Feyrer, J.,
    2. Mansur, E.T., and
    3. Sacerdote, B.
    2017. “Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution.” American Economic Review 107(4): 1313-34.
    OpenUrl
    1. Gilmore, J.S.
    1976. “Boomtowns May Hinder Energy Resource Development.” Science 191(February 13): 535-540.
    OpenUrlFREE Full Text
    1. Goda, G.S.,
    2. Shoven, J.B., and
    3. Slavov, S.N.
    2011. “What Explains Changes in Retirement Plans during the Great Recession?” American Economic Review: Papers and Proceedings 101(3): 29-34.
    OpenUrlCrossRefWeb of Science
    1. Gorry, A.,
    2. Gorry, D., and
    3. Slavov, S.N.
    2018. “Does Retirement Improve Health and Life Satisfaction?” Health Economics 27(12): 2067-2086.
    OpenUrl
    1. Gousaka, E. and
    2. Schoeni, R.
    2007. “Comparing Estimates of Family Income in the PSID and the March Current Population Survey, 1968-2005.” Institute for Social Research, University of Michigan. Technical Series Paper 07-01.
    1. Guettabi, M. and
    2. James, A.
    2020. “Who Benefits From an Oil Boom? Evidence from a Unique Alaskan Data Set.” Resource and Energy Economics 62: 101200.
    OpenUrl
    1. Hausman, C. and
    2. Kellogg, R.
    2015. “Welfare and Distributional Implications of Shale Gas.” Brookings Papers on Economic Activity (Spring) 71-125.
    1. Hill, M.
    1991. “The Panel Study of Income Dynamics: A User’s Guide (Vol. 2).” Sage Publishers, Thousand Oaks, California.
    1. Hombert, J. and
    2. Matray, A.
    2019. “Technology Boom, Labor Reallocation, and Human Capital Depreciation.” HEC Paris Research Paper No. FIN-2018-1294.
    1. Hoynes, H.,
    2. Schanzenbach, D.W., and
    3. Almond, D.
    2016. “Long Run Impacts of Childhood Access to the Safety Net.” American Economic Review 106(4): 903-934.
    OpenUrl
    1. Jackson, C.K.,
    2. Johnson, R.C., and
    3. Persico, C.
    2016. “The Effects of School Spending on Educational and Economic Outcomes: Evidence from School Finance Reforms.” Quarterly Journal of Economics 131(1): 157-218.
    OpenUrlCrossRef
    1. Jacobsen, G.D.
    2019a. “The Impact of Energy Booms on Local Workers.” IZA World of Labor 468: 1-10.
    OpenUrl
    1. Jacobsen, G.D.
    2019b. “Who Wins in an Energy Boom? Evidence from Wage Rates and Housing.” Economic Inquiry 57(1): 9-32.
    OpenUrl
    1. Jacobsen, G.D. and
    2. Parker, D.P.
    2016. “The Economic Aftermath of Resource Booms: Evidence from Boomtowns in the American West.” The Economic Journal 126(593): 1092-1128.
    OpenUrl
    1. James, A.
    2015. “US State Fiscal Policy and Natural Resources.” American Economic Journal: Economic Policy 7(3): 238-257.
    OpenUrl
    1. James, A. and
    2. Aadland, D.
    2011. “The Curse of Natural Resources: An Empirical Investigation of U.S. Counties.” Resource and Energy Economics 33: 440-453.
    OpenUrlCrossRefWeb of Science
    1. James, A. and
    2. Smith, B.
    2017. “There will be Blood: Crime Rates in Shale Rich U.S. Counties.” Journal of Environmental Economics and Management 84: 125-152.
    OpenUrl
    1. James, A. and
    2. Smith, B.
    2020. “Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution: Comment.” American Economic Review 110(6): 1905-1913.
    OpenUrl
    1. Lilliard, L.A. and
    2. Panis, C.W.A.
    1998. “Panel Attrition from the Panel Income Study of Income Dynamics: Household Income, Marital Status, and Mortality.” Journal of Human Resources 33(2): 437-457.
    OpenUrlCrossRefWeb of Science
    1. Kearney, M.S. and
    2. Wilson, R.
    2018. “Male Earnings, Marriageable Men, and Non-Marital Fertility: Evidence from the Fracking Boom.” Review of Economics and Statistics 100(4): 678-690.
    OpenUrl
    1. Kleibergen, F. and
    2. Paap, R.
    2006. “Generalized Reduced Rank Tests Using the Singular Value Decomposition.” Journal of Econometrics 133(1): 97-126.
    OpenUrlCrossRefWeb of Science
    1. Klein, M.C.
    2016. “Recalling the Oklahoma and Texas Housing Bust of the mid-1980s.” Financial Times (September). Online at: https://ftalphaville.ft.com/2016/09/30/2176379/recalling-the-oktx-housingbust-of-the-mid-1980s/
    1. Kniesner, T.J.,
    2. Viscusi, W.K.,
    3. Woock, C., and
    4. Ziliak, J.P.
    2012. “The Value of a Statistical Life: Evidence from Panel Data.” Review of Economics and Statistics 94(1): 74-87.
    OpenUrlCrossRef
    1. Kumar, A.
    2017. “Impact of Oil Booms and Busts on Human Capital Investment in the USA.” Empirical Economics 52(3): 1089-1114.
    OpenUrl
    1. Madonia, G. and
    2. Gourley, P.
    2018. “Resource Booms and Crime: Evidence from Oil and Gas Production in Colorado.” Resource and Energy Economics 54: 37-52.
    OpenUrl
    1. Maniloff, P. and
    2. Mastromonaco, R.
    2017. “The Local Employment Impacts of Fracking: A National Study.” Resource and Energy Economics 49(C): 62-85.
    OpenUrl
    1. Marchand, J. and
    2. Weber, J.
    2017. “Local Labor Markets and Natural Resources: A Synthesis of the Literature.” Journal of Economic Surveys 32(2): 469-490.
    OpenUrl
    1. Marchand, J.
    2012. “Local Labor Market Impacts of Energy Boom-Bust-Boom in Western Canada.” Journal of Urban Economics 71: 165-174.
    OpenUrlCrossRef
    1. Mason, C.F.,
    2. Muehlenbachs, L.A., and
    3. Olmstead, S.M.
    2015. “The Economics of Shale Gas Development.” Annual Review of Resource Economics 7(1): 269-89.
    OpenUrl
    1. McFall, B.H.
    2011. “Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans.” American Economic Review: Papers and Proceedings 101(3): 40-44.
    OpenUrlCrossRefWeb of Science
    1. Meyer, B.D.
    1995. “Natural and Quasi-Experiments in Economics.” Journal of Business & Economic Statistics 13: 151-161.
    OpenUrl
    1. Michaels, G.
    2011. “The Long Term Consequences of Resource-Based Specialization.” The Economic Journal 121(551): pp. 31-57.
    OpenUrl
    1. Papyrakis, E. and
    2. Gerlagh, R.
    2007. “Resource Abundance and Economic Growth in the United States.” European Economic Review 51: 1011-1039.
    OpenUrlCrossRefWeb of Science
    1. Ruggles, S.,
    2. Flood, S.,
    3. Goeken, R.,
    4. Grover, J.,
    5. Meyer, E.,
    6. Pacas, J., and
    7. Sobek, M.
    2019. IPUMS USA: Version 9.0 [dataset]. Minneapolis, MN: IPUMS.
    1. Sachs, J.D. and
    2. Warner, A.M.
    1995. “Natural Resource Abundance and Economic Growth.” NBER Working Paper No. 5398.
    1. Sanderson, E. and
    2. Windmeijer, F.
    2016. “A Weak Instrument F-test in Linear IV Models with Multiple Endogenous Variables.” Journal of Econometrics 190(2): 212-221.
    OpenUrlPubMed
    1. Smith, M.D.,
    2. Krannich, R.S., and
    3. Hunter, L.M.
    2001. “Growth, decline, stability, and disruption: a longitudinal analysis of social well-being in four Western rural communities.” Rural Sociology 66(3): 425-450
    OpenUrlWeb of Science
    1. U.S. Bureau of Labor Statistics
    . 2015. “Labor Force Projections to 2024: The Labor Force is Growing, but Slowly.” Monthly Labor Review. Online at: https://www.bls.gov/opub/mlr/2015/article/labor-force-projections-to-2024.htm
    1. U.S. Bureau of Labor Statistics
    . 2018. “Labor force participation and employment rates declining for prime-age men and women.” Monthly Labor Review. Online at: https://www.bls.gov/opub/mlr/2018/beyond-bls/labor-force-participation-andemployment-rates-declining-for-prime-age-men-and-women.htm.
    1. U.S. Bureau of Labor Statistics
    . 2019(a). “Labor Force Statistics from the Current Population Survey.” Online at: https://data.bls.gov/timeseries/LNS12000000.
    1. U.S. Bureau of Labor Statistics
    . 2019(b). “Oil and Gas Extraction: NAICS 2011.” Online at: https://www.bls.gov/iag/tgs/iag211.htm.
    1. U.S. Energy Information Administration
    . 2018. “U.S. Crude Oil Exploratory and Developmental Wells Drilled.” Online at: https://www.eia.gov/dnav/ng/hist/e_ertwo_xwc0_nus_cA.htm.
    1. U.S. Energy Information Administration
    . 2019. “U.S. Crude Oil First Purchase Price.” Online at: https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=f000000__3&f=a.
    1. van der Ploeg, F.
    2011. “Natural Resources: Curse or Blessing?” Journal of Economic Literature 49(2): 366-420.
    OpenUrlCrossRef
    1. van der Ploeg, F. and
    2. Poelhekke, S.
    2009. “Volatility and the Natural Resource Curse.” Oxford Economic Papers 61: 727-760.
    OpenUrlCrossRef
    1. van der Ploeg, F. and
    2. Poelhekke, S.
    2017. The Impact of Natural Resources: Survey of Quantitative Evidence. Journal of Development Studies 53(2): 205-216.
    OpenUrl
    1. Venables, A.
    2016. “Using Natural Resources for Development: Why Has it Proven so Difficult?” Journal of Economic Perspectives 30(1): 161-184.
    OpenUrlCrossRef
    1. Weaver. K.F.
    1981. “America’s Thirst for Imported Oil: Our Energy Predicament.” National Geographic (February): 2-23.
    1. Weber, J.
    2012. “The Effects of a Natural Gas Boom on Employment and Income in Colorado.” Energy Economics 34: 1580-1588.
    OpenUrlCrossRefWeb of Science
    1. Wilson, R.
    2020. “Moving to Economic Opportunity: The Migration Response to the Fracking Boom.” Journal of Human Resources, in press.
    1. Winters, J.V.,
    2. Cai, Z.,
    3. Maguire, K.,
    4. Sengupta, S.
    2019. “Do Workers Benefit from Resource Booms in Their Home State? Evidence from the Fracking Era.” GLO Discussion Paper, No. 400.
    1. Yi, K. and
    2. Zhang, J.
    2016. “Real Interest Rates over the Long Run. Federal Reserve Bank of Minneapolis.” Economic Policy Paper 16-10.
Next
Back to top

In this issue

Journal of Human Resources: 60 (3)
Journal of Human Resources
Vol. 60, Issue 3
1 May 2025
  • Table of Contents
  • Table of Contents (PDF)
  • Index by author
  • Front Matter (PDF)
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on Journal of Human Resources.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
Are Resource Booms a Blessing or a Curse? Evidence from People (not Places)
(Your Name) has sent you a message from Journal of Human Resources
(Your Name) thought you would like to see the Journal of Human Resources web site.
Citation Tools
Are Resource Booms a Blessing or a Curse? Evidence from People (not Places)
Grant D. Jacobsen, Dominic P. Parker, Justin B. Winikoff
Journal of Human Resources Feb 2021, 0320-10761R1; DOI: 10.3368/jhr.58.4.0320-10761R1

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Share
Are Resource Booms a Blessing or a Curse? Evidence from People (not Places)
Grant D. Jacobsen, Dominic P. Parker, Justin B. Winikoff
Journal of Human Resources Feb 2021, 0320-10761R1; DOI: 10.3368/jhr.58.4.0320-10761R1
Twitter logo Facebook logo Mendeley logo
  • Tweet Widget
  • Facebook Like
  • Google Plus One
Bookmark this article

Jump to section

  • Article
  • Figures & Data
  • Supplemental
  • Info & Metrics
  • References
  • PDF

Related Articles

  • Google Scholar

Cited By...

  • No citing articles found.
  • Google Scholar

More in this TOC Section

  • Crossing Borders
  • The Evolution of the Wage Elasticity of Labor Supply over Time
  • The Effects of High School Remediation on Long-Run Educational Attainment
Show more Articles

Similar Articles

Keywords

  • resource curse
  • resource boom
  • oil
  • volatility
  • retirement
  • Q33
  • J26
  • J30
UW Press logo

© 2025 Board of Regents of the University of Wisconsin System

Powered by HighWire