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US Metropolitan Area Resilience: Insights from dynamic spatial panel estimation
Doran, Justin; Fingleton, Bernard
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.
Keyword(s): Resistance; Recovery; Resilience; Verdoorn’s law; Post-Keynesian economics
Publication Date:
2017
Type: Journal article
Peer-Reviewed: Yes
Language(s): English
Institution: University College Cork
Citation(s): Doran, J. and Fingleton, B. (2018) 'US Metropolitan Area Resilience: Insights from dynamic spatial panel estimation', Environment and Planning A: Economy and Space, 50(1), pp. 111-132.
Publisher(s): Sage Publications
File Format(s): application/pdf
First Indexed: 2018-04-20 06:30:18 Last Updated: 2018-04-20 06:30:18