The present paper discourses on how European integration and gradual enlargement has affected the synchronicity in business cycles in EU regions. The analysis, which is conducted on annual data at the NUTSII level, is based on the following grounds: First, it examines the degree of synchronicity...

The extent to which exogenous international agricultural price fluctuations are internalized by rural communities is of major interest for policy-makers concerned with regional economic performance. So too is the link between rural sector performance and urban outcomes, especially in...

Is the United States best served by a single currency? This question is explored in this paper by looking at the regional effects of U.S. monetary policy shocks through the perspective of the Optimal Currency Area framework. Using monthly state-level data for the period 1983:1 to 2008:3, this...

To date, only annual information on economic activity is published for the 16 German states. In this paper, we calculate quarterly regional GDP estimates for the period between 1995 to 2021, thereby improving the regional database for Germany. The new data set will regularly be updated when...

This paper analyses the causal relationships in regional technological systems within a structural vector autoregression (SVAR) framework. Applying a data-driven identification strategy based on Independent Component Analysis, it shows how the regional growth dynamics of economic, research,...

This paper examines the question of inter-regional spillovers in Fukuoka Prefecture. Fukuoka Prefecture is located on the west side of Japan, and is near the Korean peninsula. There are two government-designated major cities in Fukuoka Prefecture. One is Fukuoka City, which is the central city...

This paper employs Vector Autoregression (VAR) models to measure the impact of monetary policy shocks on regional output in Indonesia. Having incorporated a possible structural break following the aftermath of the 1997-98 Asian Crisis, the impulse response functions derived from the estimated...

This paper presents tests of long run macroeconomic relations involving interest rates, equity, prices and exchange rates suggested by arbitrage in financial and goods markets. It uses the global vector autoregressive (GVAR) model to test for long run restrictions in each country/region...

We propose using sign restrictions to identify regional labor demand shocks in a panel VAR of US federal states. Observed migration responds significantly, but less persistently than the residual-based migration measure constructed by Blanchard and Katz (1992)

Assessing linkages across different regions and how macroeconomic shocks spread out across regions is not an easy task. In this study we address this problem using a global vector autoregressive methodology that deals with the curse of dimensionality in an ingenious form. Focusing on the...