A nation divided? Price and output dynamics in English regions
In this paper we estimate a VECM model for inflation and output growth in different English regions, allowing for interactions between variables and between regions. The model permits the estimation not only of the degree of inter-regional correlation of price and output innovations, but also of the degree of heterogeneity in the dynamics of regional responses to these innovations. Although regional shocks are highly correlated, there is much more heterogeneity in regional responses to these shocks.
(This abstract was borrowed from another version of this item.)
If 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.
References listed on IDEAS
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.:
- Olivier Jean Blanchard & Danny Quah, 1988.
"The Dynamic Effects of Aggregate Demand and Supply Disturbances,"
NBER Working Papers
2737, National Bureau of Economic Research, Inc.
- Blanchard, Olivier Jean & Quah, Danny, 1989. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," American Economic Review, American Economic Association, vol. 79(4), pages 655-73, September.
- Olivier Jean Blanchard & Danny Quah, 1988. "The Dynamic Effects of Aggregate Demand and Supply Disturbance," Working papers 497, Massachusetts Institute of Technology (MIT), Department of Economics.
- Pesaran, M.H. & Pierse, R.G. & Lee, K.C., 1990.
"Persistence, Cointegration And Aggregation: A Disaggregated Analysis Of Output Fluctuations In The U.S. Economy,"
25, California Los Angeles - Applied Econometrics.
- Pesaran, M. H. & Pierse, R. G. & Lee, K. C., 1993. "Persistence, cointegration, and aggregation : A disaggregated analysis of output fluctuations in the U.S. economy," Journal of Econometrics, Elsevier, vol. 56(1-2), pages 57-88, March.
- Pesaran, M.H. & Pierse, R.G. & Lee, K.C., 1990. "Persistence, Cointegration And Aggregation: A Disaggregated Analysis Of Output Fluctuations In The Us Economy," Cambridge Working Papers in Economics 9020, Faculty of Economics, University of Cambridge.
- S Barrios & M Brülhart & R Elliott & M Sensier, 2001.
"A Tale of Two Cycles: Co-fluctuations Between UK Regions and the Euro Zone,"
The School of Economics Discussion Paper Series
0101, Economics, The University of Manchester.
- Salvador Barrios & Marius Br¸lhart & Robert J.R. Elliott & Marianne Sensier, 2003. "A Tale of Two Cycles: Co-Fluctuations Between UK Regions and the Euro Zone," Manchester School, University of Manchester, vol. 71(3), pages 265-292, 06.
- Salvador BARROS & Marius BRÜLHART & Robert J.R. ELLIOTT & Marianne SENSIER, 2001. "A Tale of Two Cycles: Co-Fluctuations Between UK Regions and the Euro Zone," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 01.10, Université de Lausanne, Faculté des HEC, DEEP.
- S Barrios & M Brülhart & R J R Elliott & M Sensier, 2002. "A Tale of Two Cycles: Co-fluctuations Between UK Regions and the Euro Zone," Centre for Growth and Business Cycle Research Discussion Paper Series 03, Economics, The Univeristy of Manchester.
- Lee, Kevin C & Pesaran, M Hashem & Pierse, Richard G, 1992. "Persistence of Shocks and Their," Economic Journal, Royal Economic Society, vol. 102(411), pages 342-56, March.
- Levtchenkova, S & Pagan, A R & Robertson, J C, 1998.
" Shocking Stories,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 12(5), pages 507-32, December.
- Alchian, Armen A & Klein, Benjamin, 1973. "On a Correct Measure of Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 173-91, Part I Fe.
- Kevin Lee & Kalvinder Shields, . "Information, Business Survey Forecasts and Measurement of Output Trends in Six European Economies," Discussion Papers in European Economics 99/7, Department of Economics, University of Leicester.
- Michael Funke & Stephen Hall, 1998. "Aggregate demand and aggregate supply in UK regions," Journal of Economic Studies, Emerald Group Publishing, vol. 25(4), pages 260-276, September.
- Rosella Giacometti & Dino Pinelli, 1999. "Asymmetric Shocks and Long-Run Economic Performances across Italian Regions," Computing in Economics and Finance 1999 734, Society for Computational Economics.
When requesting a correction, please mention this item's handle: RePEc:eee:ecmode:v:20:y:2003:i:3:p:651-677. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.