Brunow, Stephan; Hirte, Georg - 2005
economic shocks and business cycles are identical in all regions
of a country. Furthermore, we also assume that the parameter …�ller and
Tondl 2002). In the latter case, provided a longer time horizon is available, the in�uence
of the business cycle on …, it is quite
certain that economic shocks or business cycle e�ects appear in the data and might also
be responsible for di …