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Employment Fluctuations in U.S. Regions and Industries: The Roles of National, Region-Specific, and Industry-Specific Shocks

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  • Clark, Todd E

Abstract

This study quantifies the roles of national, region-specific, and industry-specific shocks in aggregate employment fluctuations in U.S. regions and industries. Variation among the growth rates of major regions and industries is decomposed into unobserved national, region-, and industry-specific components. The results reject the view that any heterogeneity in regional fluctuations is attributable to differences in industry composition. After controlling for industry mix effects, roughly 40 percent of the variance of the cyclical innovation in any region's growth rate is particular to that region. In addition, region-specific shocks appear to propagate across regions over time. Copyright 1998 by University of Chicago Press.

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  • Clark, Todd E, 1998. "Employment Fluctuations in U.S. Regions and Industries: The Roles of National, Region-Specific, and Industry-Specific Shocks," Journal of Labor Economics, University of Chicago Press, vol. 16(1), pages 202-229, January.
    • Handle: RePEc:ucp:jlabec:v:16:y:1998:i:1:p:202-29
    DOI: 10.1086/209887
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    References listed on IDEAS

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    8. Norrbin, Stefan C. & Schlagenhauf, Don E., 1988. "An inquiry into the sources of macroeconomic fluctuations," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 43-70, July.
    9. Clark, Todd E, 1996. "Small-Sample Properties of Estimators of Nonlinear Models of Covariance Structure," Journal of Business & Economic Statistics, American Statistical Association, vol. 14(3), pages 367-373, July.
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