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Research ArticleArticles

Boom Town Business Dynamics

Ryan A. Decker, McCollum Meagan and Gregory B. Upton Jr.
Published online before print January 12, 2022, 0221-11501R1; DOI: https://doi.org/10.3368/jhr.0221-11501R1
Ryan A. Decker
Ryan Decker is a Principal Economist at the Federal Reserve Board.
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McCollum Meagan
Meagan McCollum is an Assistant Professor in the Department of Finance at the University of Tulsa ().
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Gregory B. Upton Jr.
Greg Upton is an Associate Research Professor in the Center for Energy Studies at Louisiana State University ().
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Abstract

The U.S. shale oil and gas boom provides a unique opportunity to study economic growth in a “boom town” environment, derive insights about labor market expansions more generally, and identify the causal effects of economic growth on specific margins of business adjustment. Creation of new establishments—separate from expansion of existing establishments—accounts for a disproportionate share of the multi-industry employment growth sparked by the shale boom, an intuitive but not inevitable empirical result that is consistent with models of firm dynamics. New firms, in particular, contribute nearly half of the cumulative employment growth resulting from the shale boom.

JEL Codes:
  • L26
  • M13
  • E24
  • R23
  • Q33
  • Q35

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Journal of Human Resources: 60 (3)
Journal of Human Resources
Vol. 60, Issue 3
1 May 2025
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Boom Town Business Dynamics
Ryan A. Decker, McCollum Meagan, Gregory B. Upton Jr.
Journal of Human Resources Jan 2022, 0221-11501R1; DOI: 10.3368/jhr.0221-11501R1

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Boom Town Business Dynamics
Ryan A. Decker, McCollum Meagan, Gregory B. Upton Jr.
Journal of Human Resources Jan 2022, 0221-11501R1; DOI: 10.3368/jhr.0221-11501R1
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Keywords

  • L26
  • M13
  • E24
  • R23
  • Q33
  • Q35
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