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Measuring US regional economic uncertainty

Pan, W.-F., Reade, J. ORCID: https://orcid.org/0000-0002-8610-530X and Wang, S. ORCID: https://orcid.org/0000-0003-2113-5521 (2022) Measuring US regional economic uncertainty. Journal of Regional Science. ISSN 1467-9787 (In Press)

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To link to this item DOI: 10.1111/jors.12590

Abstract/Summary

This study constructs a set of regional economic uncertainty (EU) indices for the United States based on internet search volumes. These indices shed light on EU at the regional and local levels along with national EU. Although aggregate state-level EU is highly synchronised, idiosyncratic state EU nonetheless exhibits large variations. Similar to aggregate state-level EU, idiosyncratic state EU is generally countercyclical. There is also a spillover effect among EU in US regions. Lastly, we show that idiosyncratic state EU foreshadows declines in local employment and output.

Item Type:Article
Refereed:Yes
Divisions:Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:103339
Publisher:Wiley

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