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Abstract:The dramatic increase in oil and gas production from shale formations has led to intense interest in its impact on local area economies. Exploration, drilling and extraction are associated with direct increases in employment and income in the energy industry, but little is known about the impacts on other parts of local economies. Increased energy sector employment and income can have positive spillover effects through increased purchases of intermediate goods and induced local spending. Negative spillover effects can occur through rising local factor and goods prices and adverse effects on the local area quality of life. Therefore, this paper examines the net economic impacts of oil and gas production from shale formations for key shale oil and gas producing areas in Arkansas, North Dakota and Pennsylvania. The synthetic control method (Abadie and Gardeazabal 2003;Abadie et al., 2010) is used to establish a baseline projection for the local economies in the absence of increased energy development, allowing for estimation of the net regional economic effects of increased shale oil and gas production.

The persistence of poverty in the modern American economy, with rates of poverty in some areas approaching those of less advanced economies, remains a central concern among policy makers. Therefore, in this study we use U.S. county-level data to explore potential explanations for the observed regional variation in the rates of poverty. The use of counties allows examination of both nonmetropolitan area and metropolitan area poverty. Factors considered include those that relate to both area economic performance and area demographic composition. Specific county economic factors examined include economic growth, industry restructuring, and labor market skills mismatches. Copyright 2000 Blackwell Publishers

Regional computable general equilibrium (CGE) models have grown in popularity in recent years as an alternative method to examine regional economies and regional policy issues. However, the contribution of regional CGE models has yet to be assessed. Therefore, this paper surveys the literature related to regional CGE modeling. The survey includes a discussion of the contributions that CGE models have made to regional economic analysis. In addition, the basic approach of regional CGE modeling is outlined, and the key features of existing regional CGE models are detailed. The paper also appraises of the current state of the art of regional CGE modeling and suggests future research directions.

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