Understanding U.S. regional cyclical comovement: How important are spillovers and common shocks?

This article develops a statistical model to study the business cycles of the eight U.S. Bureau of Economic Analysis regions. The author shows that the high level of cyclical comovement among per capita incomes of U.S. regions is the byproduct of common shocks to the regions rather than shocks that originate in one region and subsequently spill over to other regions.

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Year of publication:	2002
Authors:	Kouparitsas, Michael A.
Published in:	Economic Perspectives. - Federal Reserve Bank of Chicago. - 2002, Q IV, v. 26, no. 4, p. 30-41
Publisher:	Federal Reserve Bank of Chicago
Subject:	Business cycles \| Income

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005373036