Regional recessions and recoveries in theory and practice: a resilience-based overview

Paolo Di Caro (pdicaro@unict.it)

MPRA Paper from University Library of Munich, Germany

Abstract: This paper surveys recent developments related to regional recessions and recoveries. Building on the idea of regional resilience, selected theoretical and empirical contributions are discussed in order to provide an overview of this area of research that looks at both equilibrium- and out-of-equilibrium approaches. On theoretical grounds, aggregate and disaggregate shocks are identified and separated, and hysteretic behaviours are examined. From an empirical perspective, linear and nonlinear econometric models are described and compared, with a particular focus on their spatial econometrics’ extensions. Possible avenues of both theoretical and empirical future research are explicitly explored.

Keywords: regional evolution; hysteresis; aggregate shocks; disaggregate effects; spatial econometrics (search for similar items in EconPapers)
JEL-codes: C3 E3 R1 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:60300

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