Uvodnik
https://doi.org/10.1080/1331677X.2022.2119427
Regional aggregate indicators under subnational heterogeneity: evidence from the COVID-19 pandemic in Spain
German Lopez-Buenache
Nina Pallarés
Vita Zhukova
Sažetak
The COVID-19 outbreak forced governments to implement
regional measures avoiding the spread of the virus, while evaluating
their economic effects. However, official Spanish regional economic
information is scarce. We estimate monthly regional
aggregated indicators for each Spanish region combining a mixed
frequency Dynamic Factor Model with a recursive procedure that
identifies the most informative variables capturing economic
developments in each region. The set of variables that better
describe aggregate economic conditions varies considerably
across the regions, which emphasizes the heterogeneity in their
productive structures. Our results suggest that the post-pandemic
recovery will be uneven across territories, stressing the need to
monitor regional economic developments
Ključne riječi
Regional heterogeneity; aggregate indicators; factor model; variable selection; asymmetric shocks; synchronization
Hrčak ID:
303752
URI
Datum izdavanja:
31.3.2023.
Posjeta: 165 *