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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w6180 |
来源ID | Working Paper 6180 |
Geographical and Sectoral Shocks in the U.S. Business Cycle | |
Atish R. Ghosh; Holger C. Wolf | |
发表日期 | 1997-09-01 |
出版年 | 1997 |
语种 | 英语 |
摘要 | We examine whether the aggregate U.S. business cycle is driven mainly by geographical" shocks (affecting all sectors within a state), or by sectoral shocks (affecting the same sector in all" states). We find that, at the level of an individual sector in an individual state growth are driven by the sector, not by the state: textiles in Texas moves more with textiles" elsewhere in the U.S. than with other sectors in Texas. But shocks to sector growth rates exhibit" a lower correlation across sectors compared to the correlation of shocks to state growth rates" across states. As a result, geographical shocks gain greater importance at higher levels of" aggregation. Finally, we find that changes in the volatility of the aggregate U.S. business cycle" reflect, to a roughly comparable degree, both changes in the volatility of state and sector business" cycles, and changes in their correlation across sectors and states. |
主题 | Macroeconomics ; Business Cycles |
URL | https://www.nber.org/papers/w6180 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563688 |
推荐引用方式 GB/T 7714 | Atish R. Ghosh,Holger C. Wolf. Geographical and Sectoral Shocks in the U.S. Business Cycle. 1997. |
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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w6180.pdf(637KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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