Economic Activities and Regional Correlation During Economic and Natural Disasters

Jun Nagayasu

No 117, DSSR Discussion Papers from Graduate School of Economics and Management, Tohoku University

Abstract: Life is characterized by risks of different features and origins. Examining the economic and natural disasters that have occurred in Japan in the past decades, we show that regional relationships strengthen during chaotic moments, such as the Lehman Brothers collapse, the Great East Japan Earthquake, and the coron- avirus disease (COVID-19) pandemic. Moreover, we nd that business prospects are a good predictor of labor market conditions, and employment opportunities deteriorate more severely when regions are highly correlated. Our study indicates the side effect of market integration, and the relevance of regional economic cen- ters in cushioning nationwide economic and natural shocks.

Pages: 20 pages
Date: 2020-07
New Economics Papers: this item is included in nep-ure
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http://hdl.handle.net/10097/00128354

Related works:
Working Paper: Economic Activities and Regional Correlation During Economic and Natural Disasters (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:toh:dssraa:117

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