The Great Recession and Nonmetropolitan America

Dan Rickman and Mouhcine Guettabi

MPRA Paper from University Library of Munich, Germany

Abstract: The influence of the housing market bubble on U.S. business cycle dynamics during the previous decade has been well-documented. Yet, little if anything is known about how nonmetropolitan areas fared during the period. This study examines the association of regional housing market bubbles with relative nonmetropolitan economic performance during the business cycle phases of the decade. To better infer causality the study makes extensive use of exogenous measures of asymmetric labor demand shocks. Among the primary findings, the study establishes the important role of natural amenity attractivness in regional housing market cycles and regional employment population growth dynamics.

Keywords: Great Recession; Housing Market Bubble; Natural Amenities; Nonmetropolitan (search for similar items in EconPapers)
JEL-codes: R11 R12 R21 R23 R31 (search for similar items in EconPapers)
Date: 2013-03-03
New Economics Papers: this item is included in nep-mac and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: THE GREAT RECESSION AND NONMETROPOLITAN AMERICA (2015)
Working Paper: The Great Recession and Nonmetropolitan America (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44829

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