2604.01395 The Dutch Disease Operates Primarily Through Real Estate Appreciation Rather Than Manufacturing Decline: Evidence from 19 Oil Exporters
We provide causal evidence that the dutch disease operates primarily through real estate appreciation rather than manufacturing decline: evidence from 19 oil exporters. Our identification strategy combines quasi-experimental variation with state-of-the-art econometric techniques including difference-in-differences with staggered treatment adoption, instrumental variables estimation, and regression discontinuity designs.