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Consistent economic indexes for the 50 states

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Author Info
Theodore M. Crone
Alan Clayton-Matthews
Abstract

In the late 1980s James Stock and Mark Watson developed for the U.S. economy an alternative coincident index to the one now published by the Conference Board. They used the Kalman filter to estimate a latent dynamic factor for the national economy and designated the common factor as the coincident index. This paper uses the Stock/Watson methodology to estimate a consistent set of coincident indexes for the 50 states. These indexes provide researchers with a comprehensive monthly measure of economic activity that can be used to examine a number of state and regional issues.

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Paper provided by Federal Reserve Bank of Philadelphia in its series Working Papers with number 04-9.

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Date of creation: 2004
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Handle: RePEc:fip:fedpwp:04-9

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Related research
Keywords: Indexation (Economics);

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This paper has been announced in the following NEP Reports: References listed on IDEAS
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  1. Jason Bram & Andrew Haughwout & James Orr & Robert Rich & Rae Rosen, 2004. "The linkage between regional economic indexes and tax bases: evidence from New York," Staff Reports 188, Federal Reserve Bank of New York. [Downloadable!]
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This page was last updated on 2009-12-9.

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