US Metropolitan Area Resilience: Insights from dynamic spatial panel estimation


Type
Article
Change log
Authors
Doran, J 
Fingleton, B 
Abstract

jats:p In this paper, we show that the economic crisis commencing in 2007 had different impacts across US Metropolitan Statistical Areas, and seek to understand why differences occurred. The hypothesis of interest is that differences in industrial structure are a cause of variations in response to the crisis. Our approach uses a state-of-the art dynamic spatial panel model to obtain counterfactual predictions of Metropolitan Statistical Area employment levels from 2008 to 2014. The counterfactual employment series are compared with actual employment paths in order to obtain Metropolitan Statistical Area-specific measures of crisis impact, which then are analysed with a view to testing the hypothesis that resilience to the crisis was dependent on Metropolitan Statistical Area industrial structure. </jats:p>

Description
Keywords
Resistance, recovery, resilience, Verdoorn's law, post-Keynesian economics
Journal Title
Environment and Planning A
Conference Name
Journal ISSN
0308-518X
1472-3409
Volume Title
50
Publisher
SAGE Publications
Sponsorship
Economic and Social Research Council (ES/L011921/1)