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A Nation Divided? Price and Output Dynamics in English Regions

Author

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  • David Fielding

  • Kalvinder Shields

Abstract

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.

Suggested Citation

  • David Fielding & Kalvinder Shields, 2001. "A Nation Divided? Price and Output Dynamics in English Regions," Discussion Papers in Economics 01/6, Division of Economics, School of Business, University of Leicester.
    • Handle: RePEc:lec:leecon:01/6
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    File URL: https://www.le.ac.uk/economics/research/RePEc/lec/leecon/econ01-6.pdf
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    Cited by:

    1. Salvador Barrios & Marius Brülhart & 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, June.
    2. James FOREMAN-PECK & Laurian LUNGU, 2010. "A Supply-Side Regional Econometric Model of Wales," EcoMod2004 330600053, EcoMod.
    3. Peter Hayes, 2005. "Estimating UK regional price indices, 1974-96," Regional Studies, Taylor & Francis Journals, vol. 39(3), pages 333-344.

    More about this item

    Keywords

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    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • R19 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Other

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