Tag Archives: David Flynn

David Flynn: The Basics Of Oil In The North Dakota Economy

David Flynn: The Basics Of Oil In The North Dakota Economy

There is a big deal about understanding the impacts of oil price changes on the state economy given the legislative session underway in Bismarck. I am obviously all for such efforts. To that end I have a few graphs to offer up. Let’s consider the share of the private industry component of North Dakota Gross

David Flynn: North Dakota Housing Policy Should Rely On Sound Data

As a topic, the economics of housing in North Dakota creates a significant amount of debate. This debate lacks consistency, ground rules, and facts. Most of the discussion takes place under the umbrella term of “affordable housing.” On numerous occasions I indicated the inadequacy of this term. The first problem is that it seems assumed

David Flynn: Is the Fed Losing Control of Inflation Expectations?

This is a little more macro/money than much of the stuff I post here but it seems to be something people miss sometimes. The Federal Reserve drastically lowered rates in response to the unfolding financial crisis in 2008 and later. Those rates remain low today, essentially set between 0.0 and 0.25%. Despite this range the

David Flynn: What Really Drives the Price of Oil?

I have not looked at oil production time series for North Dakota in a while so I thought it time to take a look. Oil production, in fact most commodity production (and certainly extractive production) has an interesting cost structure. There are significant fixed cost elements to cover in order to generate profit. Notice in

David Flynn: North Dakota Continues Stellar Labor Market Growth

The Bureau of Labor Statistics (BLS) released data on employment and unemployment from the Current Employment Statistics survey. North Dakota was number one in the country with a 4.4% increase in total nonfarm employment from year ago levels. That is 12 consecutive months where the year-over-year percent change was at or above 3%, and something

David Flynn: Housing "Affordability" Not Necessarily a Sign of a Housing Problem

Housing remains a frequent topic of discussion for people in North Dakota. Most of the discussion falls under the heading of “affordability”, a suitably vague term essentially guaranteeing little to no progress on the issue, if it is a problem at all. What is the affordability issue? My suspicion is that people are thinking of