This paper presents a shift-share decomposition analysis of new firm formation at the three-digit NAICS level in the United States from 1998 to 2003, attributing overall new firm creation, in construction, manufacturing, and service sectors respectively, to three distinct sources, i.e., business...

The degree of comovement of economic activity across states or regions is an issue of utmost importance to policymakers. Asymmetric business cycles are often seen as an impediment to the formation of a common currency area. However, it has been argued that a common monetary policy in itself...