Oil Dependence and Economic Activity
Setting the stage
Let's quickly look at where this oil decline has left the state
What about Alaska's important economic base?
Why have some states recovered?
Aggregate relationship between oil prices and employment
Where does this leave us?
General takeaways
Steps forward
• We show that the current recession has slowed but we are
far from a full recovery as employment levels are
considerably below where they were four years ago.
It does, however, appear that Oil and Gas, Professional
and Business services, and Construction have stabilized.
• Oklahoma and Louisiana had shorter bouts of negative
growth and have had fairly robust recoveries. North
Dakota, Wyoming, and Alaska have had the longest and
deepest recessions.
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Mouhcine Guettabi, PhD
Oil dependence and economic activityView entire presentation