Aggregate and Regional Disaggregate Fluctuations Aggregate and Regional Disaggregate Fluctuations
نویسندگان
چکیده
This paper models uctuations in regional disaggregates as a nonstationary, dynamically evolving distribution. Doing so enables study of the dynamics of aggregate uctuations jointly with those of the rich cross-section of regional disaggregates. For the US, the leading state| regardless of which it happens to be|contains strong predictive power for aggregate uctuations. This e ect is di cult to understand if only aggregate disturbances a ect aggregate business cycles through aggregate propagation mechanisms. Instead, a better picture might be one of a \wave" of regional dynamics, rippling across the national economy. Suggested pagehead: Disaggregate Fluctuations
منابع مشابه
Final Analytical Comparison of Aggregate and Disaggregate Mode Choice Models Transferability
Transportation models as tools for transportation planning are critical to such related decisions. Considering the high cost of calibrating and validating such models, effective alternatives are highly sought for; one such alternative being the use of models calibrated for other cities. This calls for transferability analysis which has not been the subject of many researches. Due to criticalit...
متن کاملAggregate and Disaggregate Energy Consumption Relation with GDP: Evidence for Iran
Abstract I n this paper we investigated total energy consumption and its individual forms (oil, natural gas, electricity, renewable energies and coal) relationship with real gross domestic product (GDP) in Iran. We employed Hsiao’s (1981) methodology and annual data which cover 1967-2010 for investigation. The empirical findings indicate there is bidirectional causality ef...
متن کاملSectoral shocks and business cycles: a disaggregated analysis of output fluctuations in the UK
In this paper we first show that it is possible to modify linear real business cycle models to allow for disaggregate (industry-specific) factors in the generation of macroeconomic fluctuations. We then try to determine the relative importance of aggregate and sectoral shocks by doing principal components analysis on the residuals from a VAR of output growth rates in 19 UK industrial sectors. W...
متن کاملSpatial Disaggregation of Agricultural Production Data by Maximum Entropy
In this paper we develop a dynamic data-consistent way for estimating agricultural land use choices at a disaggregate level (district-level), using more aggregate data (regional-level). The disaggregation procedure requires two steps. The first step consists in specifying and estimating a dynamic model of land use at the regionallevel. In the second step, we disaggregate outcomes of the aggrega...
متن کاملSpatial Disaggregation of Agricultural Production Data
In this paper we develop a dynamic data-consistent way for estimating agricultural land use choices at a disaggregate level (district-level), using more aggregate data (regional-level). The disaggregation procedure requires two steps. The first step consists in specifying and estimating a dynamic model of land use at the regionallevel. In the second step, we disaggregate outcomes of the aggrega...
متن کامل