DeFiPP Research Seminar-Christiane Baumeister (University of Notre Dame)
Tracking Weekly State-Level Economic Conditions
Date : 08/03/2022 16:00 - 08/03/2022 17:15
Lieu : Distantiel par Teams
Orateur(s) : Christiane Baumeister
Organisateur(s) : Romain Houssa
Abstract
This paper develops a novel dataset of weekly economic conditions indices for the 50 U.S. states going back to 1987 based on mixed-frequency dynamic factor models with weekly, monthly, and quarterly variables that cover multiple dimensions of state economies. We find considerable cross-state heterogeneity in the length, depth, and timing of business cycles. We illustrate the usefulness of these state-level indices for quantifying the main contributors to the economic collapse caused by the COVID-19 pandemic and for evaluating the effectiveness of the Paycheck Protection Program. We also propose an aggregate indicator that gauges the overall weakness of the U.S. economy.
Contact :
Romain Houssa
-
romain.houssa@unamur.be
Télecharger :
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