Unequal ground: oil booms and income inequality in the USA

IF 1.6 3区 经济学 Q2 ECONOMICS Economica Pub Date : 2024-03-08 DOI:10.1111/ecca.12517
Loujaina Abdelwahed, Cole Campbell
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Abstract

This paper examines the impact of oil price and quantity shocks on income inequality in the USA. Using micro income data, we construct measures of pre-tax money income inequality at the state level for the period 1980–2017. We find that a $10 increase in oil price increases inequality, measured by the ratio of pre-tax income of the 90th percentile to 10th percentile (p90/p10), by 3.8 percentage points in states with high levels of oil endowments per capita. The increase in capital income to households at the top of the distribution drives the observed change in inequality. In addition to price shocks, we study the impact of quantity shocks that arise from oil discoveries. Quantity shocks have no effect on the overall income distribution.

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不平等的土地:美国的石油繁荣与收入不平等
本文研究了石油价格和数量冲击对美国收入不平等的影响。利用微观收入数据,我们构建了 1980-2017 年期间各州税前货币收入不平等的衡量指标。我们发现,在人均石油禀赋水平较高的州,油价每上涨 10 美元,以第 90 百分位数与第 10 百分位数的税前收入之比(p90/p10)衡量的不平等程度就会增加 3.8 个百分点。处于分配顶端的家庭的资本收入增加推动了所观察到的不平等变化。除了价格冲击外,我们还研究了石油发现带来的数量冲击的影响。数量冲击对总体收入分配没有影响。
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来源期刊
Economica
Economica ECONOMICS-
CiteScore
2.40
自引率
0.00%
发文量
49
审稿时长
5 weeks
期刊介绍: Economica is an international journal devoted to research in all branches of economics. Theoretical and empirical articles are welcome from all parts of the international research community. Economica is a leading economics journal, appearing high in the published citation rankings. In addition to the main papers which make up each issue, there is an extensive review section, covering a wide range of recently published titles at all levels.
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