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The Geography of the Great Recession / Alessandra Fogli, Enoch Hill, Fabrizio Perri.
- Format:
- Book
- Author/Creator:
- Fogli, Alessandra.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w18447.
- NBER working paper series no. w18447
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2012.
- Summary:
- This paper documents, using county level data, some geographical features of the US business cycle over the past 30 years, with particular focus on the Great Recession. It shows that county level unemployment rates are spatially dispersed and spatially correlated, and documents how these characteristics evolve during recessions. It then shows that some of these features of county data can be generated by a model which includes simple channels of transmission of economic conditions from a county to its neighbors. The model suggests that these local channels are quantitatively important for the amplification/muting of aggregate shocks.
- Notes:
- Print version record
- October 2012.
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