Tracking Weekly State-Level Economic Conditions

نویسندگان

چکیده

Abstract This paper develops a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions state economies. We find considerable cross-state heterogeneity in length, depth, timing business cycles. illustrate usefulness these state-level quantifying main contributors collapse caused by COVID-19 pandemic evaluating effectiveness Paycheck Protection Program. also propose an aggregate indicator gauges overall weakness economy.

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ژورنال

عنوان ژورنال: The Review of Economics and Statistics

سال: 2022

ISSN: ['0034-6535', '1530-9142']

DOI: https://doi.org/10.1162/rest_a_01171