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The Tenth District's defining industries: how are they changing?

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Author Info

  • Chad R. Wilkerson
  • Megan D. Williams

Abstract

The economy of the Tenth Federal Reserve District has become increasingly more services-based in recent years. While this transformation has lessened many of the historical differences with the rest of the nation, the regional economy still remains distinct, especially in some states. Wyoming, for instance, still has the most unique industrial structure in the country. And Nebraska, New Mexico, and Oklahoma still rank among the top third of states with economies that differ from the rest of the nation. ; What industries make the Tenth District so different, and what can they tell us about the future of the regional economy? ; Wilkerson and Williams examine the “defining” industries of the region. They find that the performance of a relatively small group of these industries track closely with overall job growth in each state. In other words, states whose defining industries have prospered in recent years have grown quickly overall, while states whose defining industries have struggled have grown sluggishly. Thus, identifying a state’s defining industries and understanding how they are changing can provide vital context for policymakers seeking to improve prospects for growth—as well as help identify the types of economic shocks that might threaten the region in the future.

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Bibliographic Info

Article provided by Federal Reserve Bank of Kansas City in its journal Economic Review.

Volume (Year): (2007)
Issue (Month): Q III ()
Pages: 59-81

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Handle: RePEc:fip:fedker:y:2007:i:qiii:p:59-81:n:v.92no.3

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Keywords: Federal Reserve District; 10th;

References

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  1. Emek Basker, 2005. "Job Creation or Destruction? Labor Market Effects of Wal-Mart Expansion," The Review of Economics and Statistics, MIT Press, vol. 87(1), pages 174-183, February.
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  4. Chad R. Wilkerson & Megan D. Williams, 2006. "Minority workers in the Tenth District: rising presence, rising challenges," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 31-59.
  5. Kelly D. Edmiston, 2006. "A new perspective on rising nonbusiness bankruptcy filing rates : analyzing the regional factors," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 55-83.
  6. Mark Drabenstott & Mark Henry & Kristin Mitchell, 1999. "Where have all the packing plants gone? : the new meat geography in rural America," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 65-82.
  7. Teresa Garcia-Milà & Therese J. McGuire, 1992. "Industrial mix as a factor in the growth and variability of States' economies," Economics Working Papers 9, Department of Economics and Business, Universitat Pompeu Fabra.
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  9. Ranald Richardson & Andrew Gillespie, 2003. "The Call of the Wild: Call Centers and Economic Development in Rural Areas," Growth and Change, Gatton College of Business and Economics, University of Kentucky, vol. 34(1), pages 87-108.
  10. Robert W. Gilmer, 1996. "Industrial structure in oil cities: diversification revisited," Houston Business, Federal Reserve Bank of Dallas, issue May.
  11. Georgeanne M. Artz & Kenneth E. Stone, 2006. "Analyzing the Impact of Wal-Mart Supercenters on Local Food Store Sales," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(5), pages 1296-1303.
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  13. Chad Wilkerson, 2005. "What do expected changes in U.S. job structure mean for states and workers in the Tenth District?," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 59-93.
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Cited by:
  1. Chad R. Wilkerson, 2009. "Recession and recovery across the nation: lessons from history," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 5-24.
  2. Megan D. Williams, 2007. "The Tenth District's defining industries: changes and opportunities for rural communities," Main Street Economist, Federal Reserve Bank of Kansas City, issue 5.

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