The Aggregate Implications of Regional Business Cycles

Martin Beraja, Erik Hurst, Juan Ospina

NBER Working Paper No. 21956
Issued in February 2016, Revised in February 2019

---- Acknowledgments ----

We thank Bence Bardoczy for superb research assistance. We would also like to thank the editor Gianluca Violante and four anonymous referees whose suggestions improved the paper substantially. We thank Mark Aguiar, Manuel Amador, George-Marios Angeletos, David Argente, Mark Bils, Juliette Caminade, Elisa Giannone, Adam Guren, Simon Gilchrist, Paul Gomme, Bob Hall, Marc Hofstetter, Loukas Karabarbounis, Pat Kehoe, Virgiliu Midrigan, Elena Pastorino, Harald Uhlig, Joe Vavra, Ivan Werning for their very helpful comments and discussions. Finally, we thank seminar participants at the Bank of England, Berkeley, the Board of Governors of the Federal Reserve, Boston University, Brown, Central Bank of Colombia, Chicago, Chicago Federal Reserve, Columbia, Duke, Harvard, IEF Workshop, Michigan, Minneapolis Federal Reserve, Minnesota Workshop in Macroeconomic Theory, MIT, NBER's Summer Institute EF&G, NBER's Summer Institute Prices Program, Northwestern, Princeton, Rochester, St. Louis Federal Reserve, UCLA, Yale's Cowles Conference on Macroeconomics. Any remaining errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

return to bibliography page