Why do regional economies behave differently? A modelling approach to analyse region-specific dynamics along the business cycle

Por: LASARTE LÓPEZ, JESÚS MIGUEL, CARBONERO RUZ, MARIANO, NEKHAY, OLEXANDR, RODERO COSANO, MARÍA LUISA, RODERO COSANO, MARÍA LUISA, NEKHAY, OLEXANDR, CARBONERO RUZ, MARIANO, LASARTE LÓPEZ, JESÚS MIGUEL

Medio: Appl. Econ. Lett.

Alcance: Article

Naturaleza: Científica

Ámbito: Internacional

Web: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85090936539&doi=10.1080%2f13504851.2020.1820436&partnerID=40&md5=ab596507eae5acc549f39354580eb41a

Fecha de publicacion:

ISI: 000568924900001

Scopus Id: 2-s2.0-85090936539

DOI: 10.1080/13504851.2020.1820436

Abstract:
Even though the evolution of regional economic activity is substantially explained by national/common economic shocks, regional economies can still engage in significant differential or divergent behaviours with regard to the national average across business cycles. In this article, we describe a modelling approach based on factor models that estimates differences in quarterly regional GDP levels and allows for the evaluation of the variables that best explain these differentials. To provide an example of the application of this approach, two Spanish regions are used: Andalusia and Catalonia. © 2020 Informa UK Limited, trading as Taylor & Francis Group.

Palabras clave: difference indicators; dynamic factor model; GDP differential; real-time dataset; Regional economic activity