Comovement in Cities
AbstractRecent research has shown that industries that locate together in space also move together over the business cycle, and that this correspondence between spatial and temporal comovement is important to aggregate volatility. This paper asks whether this correspondence is due to local common shocks or to local spillovers. I examine interindustry comovements within seven large US cities, and find strong evidence for local spillovers. I estimate that local spillovers explain roughly one-third of manufacturing employment volatility at the city level. Local spillovers do not appear to result from transport costs and locally traded goods.
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.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5304.
Date of creation: Oct 1995
Date of revision:
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
Other versions of this item:
- Shea, John, 1996. "Comovement in cities," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 44(1), pages 169-206, June.
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Edward L. Glaeser & Hedi D. Kallal & Jose A. Scheinkman & Andrei Shleifer, 1991.
"Growth in Cities,"
NBER Working Papers
3787, National Bureau of Economic Research, Inc.
- P. Diamond, 1980.
"Aggregate Demand Management in Search Equilibrium,"
268, Massachusetts Institute of Technology (MIT), Department of Economics.
- Marianne Baxter & Michael A. Kouparitsas, 2004.
"Determinants of Business Cycle Comovement: A Robust Analysis,"
NBER Working Papers
10725, National Bureau of Economic Research, Inc.
- Baxter, Marianne & Kouparitsas, Michael A., 2005. "Determinants of business cycle comovement: a robust analysis," Journal of Monetary Economics, Elsevier, vol. 52(1), pages 113-157, January.
- Marianne Baxter & Michael Kouparitsas, 2004. "Determinants of business cycle comovement: a robust analysis," Working Paper Series WP-04-14, Federal Reserve Bank of Chicago.
- Alberto Franco Pozzolo, 2004.
"Research and Development, Regional Spillovers and the Location of Economic Activities,"
University of Manchester, vol. 72(4), pages 463-482, 07.
- Pozzolo, A.F., 1998. "Research and Development, Regional Spillovers, and the Location of Economic Activities," Papers 331, Banca Italia - Servizio di Studi.
- Alberto Pozzolo, 1998. "Research and Development, Regional Spillovers, and the Location of Economic Activities," Temi di discussione (Economic working papers) 331, Bank of Italy, Economic Research and International Relations Area.
- Pozzolo, Alberto Franco, 2003. "Research and Development, Regional Spillovers and the Location of Economic Activities," Economics & Statistics Discussion Papers esdp03008, University of Molise, Dept. SEGeS.
- Marianne Baxter & Michael A. Kouparitsas, 2006.
"What Determines Bilateral Trade Flows?,"
NBER Working Papers
12188, National Bureau of Economic Research, Inc.
- Gerald A. Carlino & Robert H. DeFina & Keith Sill, 2000.
"Sectoral shocks and metropolitan employment growth,"
00-9, Federal Reserve Bank of Philadelphia.
- Carlino, Gerald A. & DeFina, Robert H. & Sill, Keith, 2001. "Sectoral Shocks and Metropolitan Employment Growth," Journal of Urban Economics, Elsevier, vol. 50(3), pages 396-417, November.
- John Shea, 1995. "Complementarities and Comovements," NBER Working Papers 5305, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.