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A new look at economic indexes for the states in the Third District

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  • Theodore M. Crone

Abstract

If we want to know how things are going in the economy, which measures should we look at? Unemployment? GDP? Or something else? One solution is to combine several measures into a composite index of current or future economic activity. Several years ago, the Philadelphia Fed did just that for the states in the Third District. Now, a number of factors suggest that revisions of those indexes are in order. This article explains what those revisions entail and why the new indexes are better than the old ones.

Suggested Citation

  • Theodore M. Crone, 2000. "A new look at economic indexes for the states in the Third District," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 3-14.
  • Handle: RePEc:fip:fedpbr:y:2000:i:nov:p:3-14
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    File URL: http://www.phil.frb.org/files/br/brnd00tc.pdf
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    Cited by:

    1. Donatella Baiardi & Carluccio Bianchi, 2012. "Un Indicatore per la Lombardia e per le Province di Milano e Pavia (Nuova versione)," Quaderni di Dipartimento 158, University of Pavia, Department of Economics and Quantitative Methods.
    2. Donadelli, Michael & Paradiso, Antonio & Riedel, Max, 2016. "A quasi real-time leading indicator for the EU industrial production," SAFE Working Paper Series 118 [rev.], Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    3. Allan Layton & Anirvan Banerji, 2003. "What is a recession?: A reprise," Applied Economics, Taylor & Francis Journals, vol. 35(16), pages 1789-1797.
    4. Jason P. Brown & Raymond J.G.M. Florax & Kevin T. McNamara, 2008. "Evolution Of Investment Flows In U.S. Manufacturing:A Spatial Panel Approach," Working Papers 08-06, Purdue University, College of Agriculture, Department of Agricultural Economics.
    5. repec:col:000101:013858 is not listed on IDEAS
    6. Edward Nissan & Farhang Niroomand, 2015. "Economic, welfare, demographic, and gender inequalities among selected Arab countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(2), pages 396-411, April.
    7. Donadelli, Michael & Paradiso, Antonio & Riedel, Max, 2015. "A novel ex-ante leading indicator for the EU industrial production," SAFE Working Paper Series 118, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    8. Gerardo Alberto Villa Durán, 2014. "Un índice coincidente para Medellín," ENSAYOS SOBRE ECONOMÍA REGIONAL (ESER) 013858, BANCO DE LA REPÚBLICA - ECONOMÍA REGIONAL.
    9. Zhu, Shuang & Pace, R. Kelley, 2015. "Factors underlying short sales," Journal of Housing Economics, Elsevier, vol. 27(C), pages 60-70.
    10. Jason Bram & Andrew F. Haughwout & James A. Orr & Robert W. Rich & Rae D. Rosen, 2004. "The linkage between regional economic indexes and tax bases: evidence from New York," Staff Reports 188, Federal Reserve Bank of New York.

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    Keywords

    Federal Reserve District; 3rd;

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