A Nation Divided? Price and Output Dynamics in English Regions

David Fielding and Kalvinder Shields

No 01/6, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: 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.

Keywords: VECMs; Regional Models; Persistence Profiles (search for similar items in EconPapers)
JEL-codes: E32 R19 (search for similar items in EconPapers)
Date: 2001-10
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Citations: View citations in EconPapers (4)

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Journal Article: A nation divided? Price and output dynamics in English regions (2003)
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