The Effect of Uncertainty on Investment: Evidence from Texas Oil Drilling

393 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Lagged Explanatory Variables and the Estimation of Causal Effect (2017, background): “We note here that by substituting equations (18) and (20) into (19), we can express X solely in terms of model parameters and errors: Xit = αδ FEi + α 1it + δ FEi + ηit + φ 2t−1 1− αβ (22) This expression reveals the magnitude of endogeneity bias when regressing Yt on Xt.”
Lower Oil Prices and the U.S. Economy: Is This Time Different? (2017, neutral): “Based on these data, Anderson, Kellogg and Sallee (2013) document that consumers with rare exceptions expect the nominal price of gasoline to grow at the expected rate of inflation.”
Hotelling under Pressure (2018, background): “In this case, each undrilled well would be characterized as a real option (see Kellogg 2014).”
Economic policy uncertainty (EPU) and firm carbon emissions: Evidence using a China provincial EPU index (2020, background): “The literature has well documented that firms’ investment decisions will be delayed by increased uncertainty (Bernanke, 1983; Bloom et al., 2007; Dibiasi et al., 2018; Kellogg, 2014).”