A confluence of events? explaining fluctuations in local employment

Jerry Carlino points out that the fortunes of local economies usually depend on a confluence of national, sectoral, and local shocks. That, in turn, raises the question: Does one type of shock systematically buffet local economies more than another? The answer has important implications for both academic researchers and policymakers. In "A Confluence of Events? Explaining Fluctuations in Local Employment," Carlino examines the evidence to see which type of shock most likely explains fluctuations in local employment