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AbstractPrevious research suggests that having more self‐employed or entrepreneurs can contribute to higher levels of economic growth in distressed areas. Additionally, self‐employment in certain industries may be more beneficial to growth. Other research has linked industrial diversity to entrepreneurship and regional growth, especially in urban areas. However, the relationship between industrial diversity, self‐employment, and growth in lagging or distressed regions is less clear. To examine these linkages in distressed areas, we first identify a group of distressed counties based on historic data. Then, using detailed industry‐level self‐employment data, we appraise whether having more self‐employed from certain industries is associated with regional growth. We also analyze the relationship between industrial diversity and overall growth and the propensity to be self‐employed. The results suggest that having more self‐employment overall and in some key industries is associated with more employment growth in distressed counties. We also find that the relationship between economic diversity and self‐employment varies by industry and region.

AbstractMunicipal formation by voter approval should reflect the costs and benefits associated with the more localized control and provision of public services. To the extent that the benefits associated with incorporation exceed the costs, the impact of a new municipal formation should be positively capitalized into housing values within the new municipality. However, differences in local policy, municipal characteristics, and voter sentiment may impact rates of capitalization. Using housing transactions data from 2000 to 2014, we investigate the impact of four new municipal incorporations on housing values in Riverside County, California. We find that, in contrast to previous studies in other regions, there is a generally negative capitalization effect observed post‐incorporation in the new cities of Riverside County. Our results are robust to multiple model and matching specifications and suggest that not all housing markets respond the same to incorporation and that heterogeneity in regional policies and local characteristics are important to understanding how incorporation will impact a community.

AbstractThe juxtaposition of oil and gas wells against the Rocky Mountains on Colorado's Front Range provides a picture of the complicated interaction between Colorado's natural resources above and below ground. As hydraulic fracturing has increased oil and gas development—bringing jobs and money to an already highly sought after amenity‐rich area—it has also increased concerns about the impact on natural amenities, such as water quality and mountain views. Using data on housing sales between 2006 and 2014, we estimate how shale development is capitalized into housing prices in a booming market when households are in close proximity to other natural amenities. We find that shale development negatively impacts house prices, more so for houses with private water and houses that are closer to the mountains, but that competition for land along the Front Range has driven up house prices overall in the region. Our results also suggest the policy responses to shale development may differ for growing, amenity‐rich regions.

In this paper we examine the changing demographics of overdose deaths in West Virginia based upon death certificate and economic data in West Virginia for the years 2001–2016. During the period under study, opioid overdose deaths accounted for 7% of deaths overall, and a significant number of premature deaths. Those affected were an average of 41 years old and were more likely to be unmarried and less than college educated. Eighty percent were employed at the time of death and individual employment in specific industries was associated with an increased risk of opioid overdose death. Previous state and national level policies attempting to address the opioid crisis may have lagged behind the data trends for this time period and thus been less effectual. Future policies intended to ameliorate the harms associated with the opioid crisis should reflect current data trends to help the communities and individuals at high risk for overdose death.

AbstractTo set the stage for future research aimed at developing public policies that support economic prosperity in rural areas, we review the current economic conditions of rural America and the current literature. Rural America is often characterized as a uniform, distressed place where agriculture dominates. In fact, rural America is diverse, with many regions doing well economically. In some areas, labor‐saving technologies have reduced the workforce in manufacturing and resource‐dependent industries. However, integration with urban areas has weakened the economic divide between urban and some rural areas, while natural amenities have boosted the fortunes of others. There is also evidence that homegrown enterprises can support growth even in the most remote, distressed regions. To support economic growth, policies should recognize the unique features of each place or region and balance the farm sector with the larger nonfarm rural economy. Economists are well‐positioned to provide research‐based evidence of what works, as well as rigorous evaluation of new polices.