Quah, Danny (1995) Aggregate and regional disaggregate fluctuations. Econometrics; EM/1995/290, EM/1995/290. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London, UK.
Full text not available from this repository.Abstract
This paper models fluctuations in regional disaggregates as a nonstationary, dynamically evolving distribution. Doing so enables study of the dynamics of aggregate fluctuations 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 fluctuations. This effect is difficult to understand if only aggregate disturbances affect aggregate business cycles through aggregate propagation mechanisms. Instead, the better picture might be one of a "wave" of regional dynamics, rippling across the national economy
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://sticerd.lse.ac.uk |
| Additional Information: | © 1995 the authors |
| Uncontrolled Keywords: | aggregate disturbance; business cycle; distribution dynamics; regional fluctuation; stochastic kernel. |
| Library of Congress subject classification: | H Social Sciences > HB Economic Theory |
| Sets: | Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) Departments > Economics |
| Rights: | http://www.lse.ac.uk/library/rights/LSERO.htm |
| Identification Number: | EM/1995/290 |
| URL: | http://eprints.lse.ac.uk/2073/ |
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