The Great Recession and Nonmetropolitan America
The influence of the housing market bubble on U.S. business cycle dynamics during the previous decade has been well-documented. Yet, little if anything is known about how non metropolitan areas fared during the period. This study examines the association of regional housing market bubbles with relative non metropolitan economic performance during the business cycle phases of the decade. To better infer causality the study makes extensive use of exogenous measures of a symmetric labor demand shocks. Among the primary findings, the study establishes the important role of natural amenity attractiveness in regional housing market cycles and regional employment population growth dynamics.
|Date of creation:||Mar 2013|
|Contact details of provider:|| Web page: http://spears.okstate.edu/ecls-working-papers/|
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