Understanding the Lead/Lag Structure Among Regional Business Cycles
نویسندگان
چکیده
منابع مشابه
Understanding Business Cycles*
I. Why is it that, in capitalist economies, aggregate variables undergo repeated fluctuations about trend, all of essentially the same character? Prior to Keynes’ General Theory, the resolution of this question was regarded as one of the main outstanding challenges to economic research, and attempts to meet this challenge were called business cycle theory. Moreover, among the interwar business ...
متن کاملThe Synchronization of Business Cycles among Iran’s Trade Partners
In recent years, investigating synchronization of business cycles among countries, after increasing integration of global economies, has been attracted more attention of policy makers and researchers. Perhaps an unknown origin of such similarities, as an open question, is the main reason of these interests. So, with regard to the mentioned question, the aim of this paper is to investigate some ...
متن کاملUnderstanding Noninflationary Demand-Driven Business Cycles
In this paper we first point out a puzzle regarding the nature of US business cycles over the last thirty years. As is well known, over this period the economy experienced three main cycles. In each case, the common narrative behind these cycles has been that they were in large part driven by demand (residential investment demand in the 2000s, “tech” investment demand in the 1990s, and commerci...
متن کاملBanks’ Financial Structure and Business Cycles
A puzzling fact in macroeconomics is that small and transitory shocks seem to be followed by large and persistent fluctuations in macroeconomic variables. Theoretical models explaining this empirical fact focus on the borrower but most of them neglect to model the bank. This paper proposes a framework in which changes in the financial condition of banks can have persistent aggregate consequence...
متن کاملDoes Industry Mix Matter in Regional Business Cycles?
This paper tackles two issues: (1) lead and lag relationship among regions and the role of the industry mix effect to this phenomenon are explored; (2) concurrent and lagged effects of the industry mix on the regional economic fluctuations are measured explicitly with the national shock identified from the principal components method. The empirical analysis focuses on five Midwest states. The f...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1874086