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Short run dynamics of income disparities and regional cycle synchronization

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  • Hasan Engin Duran

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Abstract

Abstract: Since the 1990s, the issue of regional income convergence and its long term tendencies has been thoroughly and heatedly discussed. Much less attention, however, has been devoted to the short-run dynamics of regional convergence. In particular, three important aspects have not yet been adequately addressed. Firstly, it is indeed essential to understand whether regional disparities manifest a tendency to move systematically along the national cycle. Then, if this happens to be the case, it becomes crucial to know whether: i. these movements are pro- or counter-cyclical, ii. the cyclical evolution of the disparities is a consequence of differences in the timing with which the business cycle is felt in regions or it is motivated by the amplitude differences across local cyclical swings. In this paper, we shed light on these issues using data on personal income for the 48 coterminous U.S. states between 1969 and 2008. Keywords: cyclical income disparities, regional business cycles, synchronization JEL Codes: R11, E32, O18

Suggested Citation

  • Hasan Engin Duran, 2011. "Short run dynamics of income disparities and regional cycle synchronization," ERSA conference papers ersa11p937, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa11p937
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    References listed on IDEAS

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    1. Mark D. Partridge & Dan S. Rickman, 2005. "Regional cyclical asymmetries in an optimal currency area: an analysis using US state data," Oxford Economic Papers, Oxford University Press, vol. 57(3), pages 373-397, July.
    2. Sari Pekkala, 2000. "Aggregate economic fluctuations and regional convergence: the Finnish case 1988-95," Applied Economics, Taylor & Francis Journals, vol. 32(2), pages 211-219.
    3. Harding, Don & Pagan, Adrian, 2003. "A comparison of two business cycle dating methods," Journal of Economic Dynamics and Control, Elsevier, vol. 27(9), pages 1681-1690, July.
    4. Andrés Rodríguez-Pose & Ugo Fratesi, 2007. "Regional Business Cycles and the Emergence of Sheltered Economies in the Southern Periphery of Europe," Growth and Change, Wiley Blackwell, vol. 38(4), pages 621-648.
    5. Michael T. Owyang & Jeremy Piger & Howard J. Wall, 2005. "Business Cycle Phases in U.S. States," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 604-616, November.
    6. Hamilton, James D, 1989. "A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle," Econometrica, Econometric Society, vol. 57(2), pages 357-384, March.
    7. Stefano Magrini & Margherita Gerolimetto, 2009. "Nonparametric regression with spatially dependent data," Working Papers 2009_20, Department of Economics, University of Venice "Ca' Foscari".
    8. Godfrey, Leslie G, 1978. "Testing against General Autoregressive and Moving Average Error Models When the Regressors Include Lagged Dependent Variables," Econometrica, Econometric Society, vol. 46(6), pages 1293-1301, November.
    9. George Petrakos & Andrés Rodríguez-Pose & Antonis Rovolis, 2005. "Growth, integration, and regional disparities in the European Union," Environment and Planning A, Pion Ltd, London, vol. 37(10), pages 1837-1855, October.
    10. Magrini, Stefano, 1999. "The evolution of income disparities among the regions of the European Union," Regional Science and Urban Economics, Elsevier, vol. 29(2), pages 257-281, March.
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    Cited by:

    1. Hasan Engin DURAN, 2015. "Non-Linear Regional Income Divergence And Policies: Turkey Case," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 107-114, December.

    More about this item

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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