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A Nation Divided? Price and Output Dynamics in English Regions.

By David Fielding and Kalvinder K. Shields

Abstract

In this paper we estimate a VECM model for inflation and output growth in different English regions, allowing for interactions between variables and between regions. The model permits the estimation not only of the degree of inter-regional correlation of price and output innovations, but also of the degree of heterogeneity in the dynamics of regional responses to these innovations. Although regional shocks are highly correlated, there is much more heterogeneity in regional responses to these shocks

Topics: VECM s, Regional Models, Persistence Profiles
Publisher: Dept. of Economics, University of Leicester.
Year: 2001
OAI identifier: oai:lra.le.ac.uk:2381/4356

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Citations

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