【摘要】Dating the regional business cycle phases using a multi-level Markovswitchingmodel revealed that the regional cycle phase transition probability dependson the national cycle phase; although the propagation speed of the national phase into aregional cycle varies across the regions. The estimation of the national factor loadingson regional economies showed that the response of a regional economy to a nationalimpact is mostly greater during a national contraction phase.

【文献来源】Chung S.Annals of regional Science.2016（1）