The Effects of the Real Oil Price on Regional Wage Dispersion
研究发现石油供给冲击降低平均实际工资，尤其是技术工人工资，并扩大地区间工资差距，尤其是非技术工人工资差距。通过空间模型和实证证据，揭示了劳动力供给调整在解释工资差距变化中的关键作用。
We find that oil supply shocks decrease average real wages, particularly skilled wages, and increase wage dispersion across regions, particularly unskilled wage dispersion. In a model with spatial energy intensity differences and nontradables, labor demand shifts, while explaining the response of average wages to oil supply shocks, have counterfactual implications for the response of wage dispersion. Only an additional response in labor supply can explain this latter fact, highlighting the importance of general equilibrium effects in a spatial context. We provide additional empirical evidence of regionally directed worker reallocation and housing prices consistent with our spatial model. Finally, we show that a calibrated version of our model can quantitatively match the estimated effects of oil supply shocks.