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Regional economies: separating trends from cycles

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  • Gerald A. Carlino
  • Keith Sill

Abstract

The various regions of the United States, although linked, respond differently to changing economic circumstances. Traditional approaches to understanding these different reactions have relied on the assumption that long-run trends in regional income or employment are constant. Recently, many economists have adopted the view that trends also change during business cycles. Using a new technique, Jerry Carlino and Keith Sill distinguished changing trends from cycles in the eight major regions of the United States and identified regions that have similar cycles. In this article, they share their results

Suggested Citation

  • Gerald A. Carlino & Keith Sill, 1997. "Regional economies: separating trends from cycles," Business Review, Federal Reserve Bank of Philadelphia, issue May, pages 19-31.
  • Handle: RePEc:fip:fedpbr:y:1997:i:may:p:19-31
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    References listed on IDEAS

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    Cited by:

    1. Canova, Fabio & Pappa, Evi, 2006. "The elusive costs and the immaterial gains of fiscal constraints," Journal of Public Economics, Elsevier, vol. 90(8-9), pages 1391-1414, September.
    2. David D. Selover & Roderick V. Jensen & John Kroll, 2005. "Mode‐Locking and Regional Business Cycle Synchronization," Journal of Regional Science, Wiley Blackwell, vol. 45(4), pages 703-745, November.
    3. Shyh-Wei Chen, 2007. "Using Regional Cycles to Measure National Business Cycles in the U.S. with the Markov Switching Panel Model," Economics Bulletin, AccessEcon, vol. 3(46), pages 1-12.
    4. Maria Gadea & Ana Gómez-Loscos & Antonio Montañés, 2012. "Cycles inside cycles: Spanish regional aggregation," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 3(4), pages 423-456, December.
    5. Igor Esteban Zuccardi Huertas, 2002. "Los ciclos económicos regionales en Colombia, 1986-2000," Documentos de trabajo sobre Economía Regional y Urbana 25, Banco de la Republica de Colombia.
    6. David Norman & Thomas Walker, 2007. "Co‐Movement Of Australian State Business Cycles," Australian Economic Papers, Wiley Blackwell, vol. 46(4), pages 360-374, December.
    7. Thomas Walker & David Norman, 2004. "Co-movement of Australian State Business Cycles," Econometric Society 2004 Australasian Meetings 334, Econometric Society.
    8. Theodore M. Crone, 1999. "Using state indexes to define economic regions in the U.S," Working Papers 99-19, Federal Reserve Bank of Philadelphia.
    9. repec:ebl:ecbull:v:3:y:2007:i:46:p:1-12 is not listed on IDEAS
    10. Andres Rodríguez-Pose & Ugo Fratesi, 2003. "Regional economic cycles and the emergence of sheltered economies in the periphery of the EU," ERSA conference papers ersa03p189, European Regional Science Association.
    11. David Norman & Thomas Walker, 2004. "Co-movement of Australian State Business Cycles," RBA Research Discussion Papers rdp2004-09, Reserve Bank of Australia.
    12. Gatfaoui, Jamel & Girardin, Eric, 2015. "Comovement of Chinese provincial business cycles," Economic Modelling, Elsevier, vol. 44(C), pages 294-306.
    13. Alexandra Ferreira-Lopes & Álvaro Pina, 2011. "Business Cycles, Core, and Periphery in Monetary Unions: Comparing Europe and North America," Open Economies Review, Springer, vol. 22(4), pages 565-592, September.
    14. Juergen Bierbaumer-Polly, 2012. "Regional and Sectoral Business Cycles - Key Features for the Austrian economy," EcoMod2012 4074, EcoMod.
    15. Alexandra Ferreira-Lopes & Tiago Neves Sequeira, 2012. "Business Cycles Association in a Small Monetary Union: The Case of Switzerland," Spatial Economic Analysis, Taylor & Francis Journals, vol. 7(1), pages 9-30, March.
    16. Jahyeong Koo & Mark A. Wynne, 1997. "Business cycles under monetary union: EU and US business cycles compared," Working Papers 9707, Federal Reserve Bank of Dallas.

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    Keywords

    Business cycles; Regional economics;

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