Based on comparisons between the business cycles of Seventh District states and the national business cycle, the authors conclude that the argument that business cycles are all alike, irrespective of the time period or country considered, holds true for subnational economies as well

This paper explores the sources of fluctuations in sectoral employment growth rates across the Australian economy over three different periods: the pre‐terms of trade boom period; the pre‐global financial crisis (GFC) phase of the terms of trade boom; and the GFC and post‐GFC phase. We find...