Business cycle synchronization among the US states: spatial effects and regional determinants
نویسندگان
چکیده
This paper investigates the extent and determinants of business cycle synchronization among US states during period 2002–11. Phase is not measured based on one national reference series, but rather assessed using pairwise indicators computed over cycles all state pairs. The analysis a natural intuitive measure synchronization: fraction observations when cyclical phase same for both in each pair. Synchronization have spatially correlated structure. economic are studied spatial econometric models. Business more synchronized between those characterized by strong commercial links similar structure terms industrialization, labour market characteristics openness.
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ژورنال
عنوان ژورنال: Spatial Economic Analysis
سال: 2021
ISSN: ['1742-1780', '1742-1772']
DOI: https://doi.org/10.1080/17421772.2020.1860252