An Alternative Definition of Economic Regions in the United States Based on Similarities in State Business Cycles
AbstractSince the 1950s the Bureau of Economic Analysis (BEA) has grouped the states into eight regions based primarily on cross-sectional similarities in their socioeconomic characteristics. This paper groups states into regions based on the similarities in their business cycles. We applied k-means cluster analysis to the cyclical components of Stock-Watson-type indices estimated at the state level to group the 48 contiguous states into eight regions with similar cycles. We then compare the cohesion of the regions so defined with the cohesion of the BEA regions. Finally, we examine how that definition affects the results of some recent regional business cycle analysis. © 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics and Statistics.
Volume (Year): 87 (2005)
Issue (Month): 4 (November)
Contact details of provider:
Web page: http://mitpress.mit.edu/journals/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Rua, António, 2010.
"Measuring comovement in the time-frequency space,"
Journal of Macroeconomics,
Elsevier, vol. 32(2), pages 685-691, June.
- Owyang, Michael T. & Rapach, David E. & Wall, Howard J., 2009.
"States and the business cycle,"
Journal of Urban Economics,
Elsevier, vol. 65(2), pages 181-194, March.
- Michael T. Owyang & Sarah Zubairy, 2009.
"Who benefits from increased government spending? a state-level analysis,"
2009-006, Federal Reserve Bank of St. Louis.
- Owyang, Michael T. & Zubairy, Sarah, 2013. "Who benefits from increased government spending? A state-level analysis," Regional Science and Urban Economics, Elsevier, vol. 43(3), pages 445-464.
- Kristie M. Engemann & Michael T. Owyang & Howard J. Wall, 2011.
"Where is an oil shock?,"
2011-016, Federal Reserve Bank of St. Louis.
- Korobilis, Dimitris & Gilmartin, Michelle, 2010.
"On regional unemployment: an empirical examination of the determinants of geographical differentials in the UK,"
28542, University Library of Munich, Germany.
- Dimitris Korobilis & Michelle Gilmartin, 2011. "On Regional Unemployment: An Empirical Examination of the Determinants of Geographical Differentials in the UK," Working Paper Series 13_11, The Rimini Centre for Economic Analysis.
- Andra C. Ghent & Michael T. Owyang, 2009.
"Is housing the business cycle? evidence from U.S. cities,"
2009-007, Federal Reserve Bank of St. Louis.
- Ghent, Andra C. & Owyang, Michael T., 2010. "Is housing the business cycle? Evidence from US cities," Journal of Urban Economics, Elsevier, vol. 67(3), pages 336-351, May.
- Robert S. Chirinko & Daniel J. Wilson, 2011.
"Tax Competition Among U.S. States: Racing to the Bottom or Riding on a Seesaw?,"
CESifo Working Paper Series
3535, CESifo Group Munich.
- Bob Chirinko & Daniel J. Wilson, 2007. "Tax competition among U.S. states: racing to the bottom or riding on a seesaw?," Working Paper Series 2008-03, Federal Reserve Bank of San Francisco.
- Kim, Young Se & Rous, Jeffrey J., 2012. "House price convergence: Evidence from US state and metropolitan area panels," Journal of Housing Economics, Elsevier, vol. 21(2), pages 169-186.
- Stefano Magrini & Margherita Gerolimetto & Hasan Engin Duran, 2011. "Understanding the lead/lag structure among regional business cycles," Working Papers 2011_06, Department of Economics, University of Venice "Ca' Foscari".
- Beckworth, David, 2010. "One nation under the fed? The asymmetric effects of US monetary policy and its implications for the United States as an optimal currency area," Journal of Macroeconomics, Elsevier, vol. 32(3), pages 732-746, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).
If references are entirely missing, you can add them using this form.