Understanding U.S. regional cyclical comovement: How important are spillovers and common shocks?
AbstractThis article develops a statistical model to study the business cycles of the eight U.S. Bureau of Economic Analysis regions. The author shows that the high level of cyclical comovement among per capita incomes of U.S. regions is the byproduct of common shocks to the regions rather than shocks that originate in one region and subsequently spill over to other regions.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.
Volume (Year): (2002)
Issue (Month): Q IV ()
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- Maria Gadea & Ana Gómez-Loscos & Antonio Montañés, 2012.
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Papers in Regional Science,
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- Arthur Grimes, 2005.
"Regional and Industry Cycles in Australasia: Implications for a Common Currency,"
05_04, Motu Economic and Public Policy Research.
- Grimes, Arthur, 2005. "Regional and industry cycles in Australasia: Implications for a common currency," Journal of Asian Economics, Elsevier, vol. 16(3), pages 380-397, June.
- Arthur Grimes, 2005. "Regional and Industry Cycles in Australasia: Implications for a Common Currency," Macroeconomics 0509020, EconWPA.
- Nicolaas Groenewold & Guoping Lee & Anping Chen, 2006. "Inter-Regional Output Spillovers in China: Disentangling National from Regional Shocks," Economics Discussion / Working Papers 06-25, The University of Western Australia, Department of Economics.
- Groenwold, Nicolaas & Lee, Guoping & Chen, Anping, 2008. "Inter-regional spillovers in China: The importance of common shocks and the definition of the regions," China Economic Review, Elsevier, vol. 19(1), pages 32-52, March.
- Hiroshi Sakamoto, 2011. "Inter-regional spillovers in Fukuoka Prefecture: Using VAR model," ERSA conference papers ersa11p360, European Regional Science Association.
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