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On the comparative advantage of U.S. manufacturing : evidence from the shale gas revolution
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Arezki, Rabah, Fetzer, Thiemo and Pisch, Frank (2017) On the comparative advantage of U.S. manufacturing : evidence from the shale gas revolution. Journal of International Economics, 107 . pp. 34-59. doi:10.1016/j.jinteco.2017.03.002
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Official URL: http://dx.doi.org/10.1016/j.jinteco.2017.03.002
Abstract
This paper provides novel empirical evidence of the effects of a plausibly exogenous change in relative factor prices on U.S. manufacturing production and trade. The shale gas revolution has led to (very) large and persistent differences in the price of natural gas between the U.S. and the rest of the world reflecting differences in endowment of difficult-to-trade natural gas. Guided by economic theory, empirical tests on output, factor reallocation and international trade are conducted. Results show that U.S. manufacturing exports have grown by about 10% on account of their energy intensity since the onset of the shale revolution. We also document that the U.S. shale revolution is operating both at the intensive and extensive margins.
| Item Type: | Journal Article | ||||||||||||||||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||||||||||||||||
| Divisions: | Faculty of Social Sciences > Economics | ||||||||||||||||||
| Library of Congress Subject Headings (LCSH): | Shale gas industry -- Economic aspects -- United States, Exports -- United States | ||||||||||||||||||
| Journal or Publication Title: | Journal of International Economics | ||||||||||||||||||
| Publisher: | Elsevier BV | ||||||||||||||||||
| ISSN: | 0022-1996 | ||||||||||||||||||
| Official Date: | July 2017 | ||||||||||||||||||
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| Volume: | 107 | ||||||||||||||||||
| Page Range: | pp. 34-59 | ||||||||||||||||||
| DOI: | 10.1016/j.jinteco.2017.03.002 | ||||||||||||||||||
| Status: | Peer Reviewed | ||||||||||||||||||
| Publication Status: | Published | ||||||||||||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||||||||||||
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