Housing price-to-income and price-to-rent ratios are among the most widely monitored indicators of housing market conditions. While these ratios tend to fluctuate around a constant level or a mild trend over the long term, they also tend to deviate from these benchmarks for protracted periods....

The persistence of macroeconomic shocks is one of the most investigated issues in empirical economics. Given the importance of industrial production, a highly seasonal variable with possible breaks, as measure of output in econometric models, in this study, we investigate the persistence...

In this paper, the convergence of income per capita across U.S. metropolitan statistical areas (metros) are examined over the period between 1969 and 2011. We initiate the analysis with multivariate tests for stability, and the existence of unit roots. The analysis is complemented by the use of...