Energy Transitions and Household Finance: Evidence from U.S. Coal Mining

Abstract Between 2010 and 2020, the U.S. coal industry experienced a 50% drop in production, employment, active mines, driven by regulatory factors technological innovation alternative energy sources. We study impact of this transition on household wages, migration, home ownership affected communities. Compared to non-coal-producing, resource-rich counties, coal-producing counties experience 6% 4% drops employment respectively, during period. Economic mobility access banking services significantly moderate these real effects, suggesting potential role for finance shape industrial economic changes associated with climate transitions. (JEL G20, G50, J61, Q55, Q58) Received March 20, 2022; editorial decision July 17, 2022 Editor Camelia Kuhnen. Authors have furnished an Internet Appendix, which is available Oxford University Press Web site next link final published paper online.