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The impact of fracking activities on Oklahoma’s housing prices: a panel cointegration analysis.Fracking drilling has opened a discussion on the role of technological developments in economies engaged in shale oil and gas formations. Oil and natural gas production opened new possibilities for employment benefits and housing prices decreases. This paper explores, for the first time, the impact of fracking on housing prices across Oklahoma’s counties, spanning the period 2000-2015. Through panel methods, the findings show a positive effect on housing prices, while this positive effect gains statistical significance only over the period after the 2006 fracking boom. The results survive a robustness check that explicitly considers distance and groundwater-dependency issues.
New Evidence on the Information and Predictive Content of the Baltic Dry IndexThis empirical study analyzes the information and predictive content of the Baltic Dry Index (BDI) with respect to a range of financial assets and the macroeconomy. By using panel methodological approaches and daily data spanning the period 1985–2012, the empirical analysis documents the joint predictability capacity of the BDI for both financial assets and industrial production. The results reveal the role of the BDI in predicting the future course of the real economy, yielding a link between financial asset markets and the macroeconomy.