We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Regional Business Cycles In the United States.
- Authors
Shelley, Gary L.
- Abstract
This paper uses a band-pass filter to identify business cycles falling into a frequency band of 6 to 32 quarters in the annualized growth rate of quarterly real personal income in the United States and in each of the eight regions of the country as defined by the Bureau of Economic Analysis (BEA). Results for a time span from the third quarter of 1967 through the first quarter of 2017 indicate that the business cycle is well captured by the band-pass filter. Estimates also indicate that in general the business cycle within each geographical region is similar to the aggregate cycle. The strong similarity across regions of the 2007-2008 recession is consistent with a downturn caused by an aggregate shock. However, there are noticeable regional differences in the severity of the 1991 and 2001 recessions. The regional differences suggest that sectoral shocks also played a role in these recessions.
- Subjects
UNITED States; BUSINESS cycles; UNITED States economy; INCOME; RECESSIONS; BANDPASS filters
- Publication
B>Quest, 2018, p1
- ISSN
1084-3981
- Publication type
Article