How oil prices impact the labor market: empirical evidence from Alaska
dc.contributor.author | Bocklet, Johanna | |
dc.date.accessioned | 2016-06-13T20:26:00Z | |
dc.date.available | 2016-06-13T20:26:00Z | |
dc.date.issued | 2016-05 | |
dc.identifier.uri | http://hdl.handle.net/11122/6601 | |
dc.description | Thesis (M.S.) University of Alaska Fairbanks, 2016 | en_US |
dc.description.abstract | The present paper uses a linear autoregressive distributed lag (ARDL) approach in order to test for symmetric effects of oil price changes on employment in the oil-industry and employment in non-oil industries in Alaska. The ARDL model allows for the examination of short and long-run effects of employment by changes in crude oil prices, interest rate and personal income. Using quarterly data over the period 1987-2015, the long run results show strong positive correlation of crude oil prices and oil-industry employment and negative correlation between crude oil prices and employment in the non-oil industry in Alaska, supporting the sectoral shift hypothesis. Furthermore, interest rates significantly impact employment in both economic sectors, in the short and in the long run. While a higher interest rate leads to job creation in the oil-industry, it causes job destruction in the non-oil industry. | en_US |
dc.description.tableofcontents | 1. Introduction -- 2. Literature Review -- 3. Oil and the Alaskan Labor Market -- 4. Methodology -- 4.1 Theoretical Framework -- 4.2 Econometric Models -- 5. Data -- 6. Empirical Results -- 6.1 Results of Oil Price Impacts on Oil Industry Employment -- 6.2 Results of Oil Price Impacts on Non-Oil Industry Employment -- 7. Conclusion -- References. | en_US |
dc.language.iso | en_US | en_US |
dc.title | How oil prices impact the labor market: empirical evidence from Alaska | en_US |
dc.type | Thesis | en_US |
dc.type.degree | ms | en_US |
dc.identifier.department | Department of Economics | en_US |
dc.contributor.chair | Baek, Jungho | |
dc.contributor.committee | Wright, Christopher | |
dc.contributor.committee | Little, Joseph | |
refterms.dateFOA | 2020-03-05T13:43:01Z |