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Business cycle coordination along the Texas-Mexico border

Author

Listed:
  • Jesus Cañas
  • Keith R. Phillips

Abstract

In this paper we use a dynamic single-factor model originally due to Stock and Watson [18, 19] to measure the business cycle in four Texas border Metropolitan Statistical Areas (MSAs) and Mexico. We then measure the degree of economic integration between border cities, the US, Texas, and Mexican economies using correlation, spectral and cluster analysis. Results suggest border MSAs are significantly integrated with the broader economies and that major changes have occurred in these relationships since 1994, the year in which NAFTA was enacted and the time maquiladora industry began to accelerate.

Suggested Citation

  • Jesus Cañas & Keith R. Phillips, 2004. "Business cycle coordination along the Texas-Mexico border," Working Papers 0502, Federal Reserve Bank of Dallas.
    • Handle: RePEc:fip:feddwp:05-02
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    Citations

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    Cited by:

    1. Hideaki Hirata & M. Ayhan Kose & Chris Otrok, "undated". "Regionalization vs. Globalization," Working Paper 164456, Harvard University OpenScholar.
    2. Jesús Cañas & Roberto Coronado & Robert W. Gilmer & Eduardo Saucedo, 2013. "The Impact of the Maquiladora Industry on U.S. Border Cities," Growth and Change, Wiley Blackwell, vol. 44(3), pages 415-442, September.
    3. Magnusson, Kristin, 2009. "The Impact of U.S. Regional Business Cycles on Remittances to Latin America," SSE/EFI Working Paper Series in Economics and Finance 710, Stockholm School of Economics.
    4. del Rosío Barajas-Escamilla María & Kia Amir & Sotomayor Maritza, 2016. "Concepts and Measurements of Economic Interdependence: The Case of the United States and Mexico," Global Economy Journal, De Gruyter, vol. 16(1), pages 63-90, March.
    5. Shekar Shetty & Zahid Iqbal & Mansour Alshamali, 2013. "Energy Price Shocks and Economic Activity in Texas Cities," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(4), pages 371-383, December.

    More about this item

    Keywords

    North American Free Trade Agreement; Maquiladora;

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