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Which States Are Most Affected by Falling Oil Prices? March 12, 2015 At a recent Dialogue with the Fed presentation, Mine Kuban Yücel, senior vice president and the director of research at the Federal Reserve Bank of Dallas, presented her research into the dynamics of oil prices in the U.S. economy. One point she made was that certain states are more affected by falling oil prices than others. Specifically, there are eight states that experience a decline in employment when oil prices fall by 50 percent. Additional Resources • Dialogue with the Fed: Plunging Crude Prices: Impact on U.S. and State Economies • On the Economy: Are Oil Price Declines Good for the Economy? • On the Economy: Oil Prices: Is Supply or Demand behind the Slump?