Spatial Diffusion of Local Economic Shocks in Social Networks: Evidence from the US Fracking Boom
利用美国在线社交网络数据，研究发现地方油气行业需求激增通过社交网络扩散到远距离地区，使与钻井点社交联系紧密的县人均工资显著上升，主要机制是行业工人迁移。
There is little evidence on the relevance of social networks in the aggregate spatial diffusion of localised economic shocks. This paper uses novel data on the universe of online friendships in the US to uncover how plausibly exogenous surges in the local demand for jobs in the oil and gas industry can affect the economy of spatially distant but socially proximate places. Although most of the diffusion is limited to geographically proximate areas, social networks matter too. According to 2SLS estimates, a million dollar per capita increase in oil and gas extraction raises per capita wages by over 5,000 dollars for workers reporting their incomes in counties located as far as 1,200 km away from the drilling site, but strongly socially connected to it. This effect is likely explained by the relocation of transient workers within the industry, providing new aggregate evidence in support of the literature on job information networks.