sector and the value of its physical capital.

We develop a model of international cities with each city inhabited by two representative agents, one specializing in manufacturing,ther other in distribution. Using a panel of micro=prices at the city level, we decompose the long-run cross-sectional variance of LOP deviations into the fraction...

We examine the driving forces of G-7 business cycles. We decompose national business cycles into common and nation-specific components using a dynamic factor model. We also do this for driving variables found in business cycle models: productivity; measures of fiscal and monetary policy; the...