Cookies?
Library Header Image
LSE Research Online LSE Library Services

The UK intranational trade cycle

Artis, Michael and Okubo, Toshihiro (2009) The UK intranational trade cycle. SERC Discussion Papers, SERCDP0019. Spatial Economics Research Centre (SERC), London School of Economics and Political Science, London, UK.

[img]
Preview
PDF
Download (790Kb) | Preview

Abstract

The paper uses annual data on real GDP for the UK regions and 12 manufacturing sectors to derive regional and regional/sectoral business cycles using an H-P filter. The cohesion of the cycles is examined via cross-correlations and comparisons made with the regional cycles for Japan, the United States and the EuroArea. The UK emerges as especially cohesive and efforts to explain the overall cross-correlations of regional GDP are not very successful owing to the low variance of the explicand; when attention is turned to the sectoral/regional cycles, with their greater variance it is possible to demonstrate that economic variables such as distance, dissimilarity in structure and level of output play a significant role in explaining the variance in the cross-correlations. A significant feature of the cross-correlations in relation to those of EU countries is that whilst they continue to provide support for the “UK idiosyncrasy” they no longer do so as strongly as they did in earlier data samples

Item Type: Monograph (Discussion Paper)
Official URL: http://www.spatialeconomics.ac.uk/SERC/publication...
Additional Information: © 2009 Michael Artis and Toshihiro Okubo
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HF Commerce
Sets: Research centres and groups > Spatial Economics Research Centre
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: SERCDP0019
Date Deposited: 24 Mar 2011 10:32
URL: http://eprints.lse.ac.uk/33211/

Actions (login required)

Record administration - authorised staff only Record administration - authorised staff only

Downloads

Downloads per month over past year

View more statistics