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Sectoral Sources of the Massachusetts Miracle and Other Turning Points

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  • N. Edward Coulson

Abstract

Previous analyses of the Massachusetts Miracle and the subsequent evolution of employment in the area have centered in part on sectoral explanations. In this paper these explanations are evaluated with the use of a sectoral-based VAR model of the Boston economy, developed to identify local and national sectoral shocks. The relative importance of these shocks is estimated both for the overall sample and at several turning points in aggregate Boston employment, the latter using historical decompostions. Copyright 2001 Blackwell Publishers

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  • N. Edward Coulson, 2001. "Sectoral Sources of the Massachusetts Miracle and Other Turning Points," Journal of Regional Science, Wiley Blackwell, vol. 41(4), pages 617-637.
  • Handle: RePEc:bla:jregsc:v:41:y:2001:i:4:p:617-637
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    1. John Y. Campbell & Pierre Perron, 1991. "Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots," NBER Chapters,in: NBER Macroeconomics Annual 1991, Volume 6, pages 141-220 National Bureau of Economic Research, Inc.
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    7. Rogers, John H. & Jenkins, Michael, 1995. "Haircuts or hysteresis? Sources of movements in real exchange rates," Journal of International Economics, Elsevier, vol. 38(3-4), pages 339-360, May.
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    Cited by:

    1. Owyang, Michael T. & Piger, Jeremy & Wall, Howard J., 2013. "Discordant city employment cycles," Regional Science and Urban Economics, Elsevier, vol. 43(2), pages 367-384.
    2. Michael Fratantoni & Scott Schuh, 2000. "Monetary policy, housing investment, and heterogeneous regional markets," Working Papers 00-1, Federal Reserve Bank of Boston.

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