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Business cycle dynamics across the US states

Author

Listed:
  • Magrini Stefano
  • Gerolimetto Margherita

    (Department of Economics, Università Ca’ Foscari Venezia, Cannaregio 873 Venezia 30121, Italy)

  • Duran Hasan Engin

    (Izmir Institute of Technology, Department of City and Regional Planning, IYTE Gülbahçe Kampüsü Urla-İzmir 35430, Turkey)

Abstract

The analysis of synchronization among regional or national business cycles has recently been attracting a growing interest within the economic literature. Far less attention has instead been devoted to a closely related issue: given a certain level of synchronization, some economies might be systematically ahead of others along the swings of the business cycle. We analyze this issue within a system of economies and show that leading (or lagging behind) is a feature that does not occur at random across the economies. In addition, we investigate the economic drivers that could explain this behavior. To do so, we employ data for 48 conterminous US states between 1990 and 2009.

Suggested Citation

  • Magrini Stefano & Gerolimetto Margherita & Duran Hasan Engin, 2013. "Business cycle dynamics across the US states," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 1-28, April.
    • Handle: RePEc:bpj:bejmac:v:13:y:2013:i:1:p:28:n:1
    DOI: 10.1515/bejm-2012-0018
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    3. Millar, Jonathan N. & Oliner, Stephen D. & Sichel, Daniel E., 2016. "Time-to-plan lags for commercial construction projects," Regional Science and Urban Economics, Elsevier, vol. 59(C), pages 75-89.
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    6. Hall, Viv & Thomson, Peter & McKelvie, Stuart, 2015. "On trend robustness and end-point issues for New Zealand’s stylised business cycle facts," Working Paper Series 3761, Victoria University of Wellington, School of Economics and Finance.
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    8. Frank Bohn, 2018. "Political cycles: Beyond rational expectations," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-23, October.
    9. Hall, Viv & Thomson, Peter & McKelvie, Stuart, 2015. "On trend robustness and end-point issues for New Zealand’s stylised business cycle facts," Working Paper Series 18867, Victoria University of Wellington, School of Economics and Finance.
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