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

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posted on 2009-03-26, 12:25 authored by David Fielding, Kalvinder K. Shields
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.

History

Publisher

Dept. of Economics, University of Leicester.

Available date

2009-03-26

Publisher version

http://www.le.ac.uk/economics/research/discussion/papers2001.html

Book series

Papers in Economics;01/6

Language

en

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