Asset Ownership, Windfalls, and Income: Evidence from Oil and Gas Royalties

Abstract

The recent oil and gas production boom in the contiguous United States generated tens of billions in additional royalty income for owners of oil and gas rights. We use the royalty income shock to study the local multiplier effect of unanticipated income and find that each royalty dollar received by county residents created an additional $0.50 in local… (More)

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Cite this paper

@inproceedings{Brown2017AssetOW, title={Asset Ownership, Windfalls, and Income: Evidence from Oil and Gas Royalties}, author={Jason P. Brown and Timothy L Fitzgerald and Jeremy G. Weber}, year={2017} }