Owyang, Michael T.; Piger, Jeremy M.; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2004
The U.S. aggregate business cycle is often characterized as a series of distinct recession and expansion phases. We … significantly in the timing of switches between regimes, indicating large differences in the extent to which state business cycle …
WORKING PAPER SERIES
Business Cycle Phases in U.S. States
Michael T. Owyang
Jeremy …