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Aggregate and regional disaggregate fluctuations

Quah, Danny (1996) Aggregate and regional disaggregate fluctuations. CEP discussion paper; CEPDP0275, 275. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Identification Number: 275


This paper models uctuations in regional disaggregates as a nonsta- tionary, 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 eect is dicult to understand if only ag- gregate disturbances aect 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.

Item Type: Monograph (Discussion Paper)
Official URL:
Additional Information: © 1996 the author
Subjects: H Social Sciences > HB Economic Theory
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Series: Working Papers > CEP Discussion Papers
Date Deposited: 27 Apr 2007
Last Modified: 14 Nov 2012 10:19

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