| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16317 |
| DP16317 Tracking Weekly State-Level Economic Conditions | |
| Christiane Baumeister; Danilo Leiva-León; Eric Sims | |
| 发表日期 | 2021-07-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | In this paper, we develop 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 of state economies. We show that there is considerable heterogeneity in the length, depth, and timing of business cycles across individual states. We assess the role of states in national recessions and propose an aggregate indicator that allows us to gauge the overall weakness of the U.S. economy. We also illustrate the usefulness of these state-level indices for quantifying the main forces contributing to the economic collapse caused by the COVID-19 pandemic and for evaluating the effectiveness of federal economic policies like the Paycheck Protection Program. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Local economic conditions Government policies Weekly indicators State economies Cross-state heterogeneity Mixed-frequency dynamic factor model Economic weakness index Markov-switching Recession probabilities |
| URL | https://cepr.org/publications/dp16317 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545282 |
| 推荐引用方式 GB/T 7714 | Christiane Baumeister,Danilo Leiva-León,Eric Sims. DP16317 Tracking Weekly State-Level Economic Conditions. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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