We model the US business cycle using a dynamic factor model that identifies common factors underlying fluctuations in state-level income and employment growth. We find three such common factors, each of which is associated with a set of factor loadings that indicate the extent to which each...

A number of studies have documented a reduction in aggregate macroeconomic volatility beginning in the early 1980s, i.e., the "Great Moderation." This paper documents the Great Moderation at the state level, finding significant heterogeneity in the timing and magnitude of states' structural...

This article reexamines and extends the literature on the use of migration rates to estimate compensating differentials as measures of regional quality of life. I estimate an interregional migration regression for the UK and use the results to measure regional quality of life and standard of...

The wage gap between men and women is not as large as you think, nor is it entirely due to discrimination.

One employment survey said 800,000 jobs were lost in the two years after the recession ended in November 2001. Another survey said 2 million more people were working. Can anyone account for this huge gap?

U.S. exports have been booming since the passage of the North American Free Trade Agreement. But is the story the same for every state?