Capturing rents from natural resource abundance: Private royalties from U.S. onshore oil & gas production
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- 作者：Jason P. Browna ; jason.brown@kc.frb.org" class="auth_mail" title="E-mail the corresponding author ; Timothy Fitzgeraldb ; timothy.fitzgerald@ttu.edu" class="auth_mail" title="E-mail the corresponding author ; Jeremy G. Weberc ; jgw99@pitt.edu" class="auth_mail" title="E-mail the corresponding author
- 关键词：L71 ; R11 ; Q32 ; Q35
- 刊名：Resource and Energy Economics
- 出版年：2016
- 出版时间：November 2016
- 年：2016
- 卷：46
- 期：Complete
- 页码：23-38
- 全文大小：873 K
文摘
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The largest oil and gas plays generated $39 billion in private royalties in 2014.
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We find limited pass-through of resource abundance into royalty rates.
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Mineral owners benefit from resource abundance primarily through a quantity effect.
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Market power and uncertainty of resource endowments explain limited pass-through.