Regional Perspectives. (Precis).(regional Economics research)(Brief Article)

Article excerpt

Michael Kouparitsas used part of his research to contribute "A regional perspective on the U.S. business cycle," to the Chicago Fed Letter series of essays on issues. Two of his colleagues Rick Kaglik and Michael Munley used the same forum to issue "Using data and anecdotal evidence to understand the regional economy." Kouparitsas presents some of the factual issues that he sought to explain in his more detailed Economic Perspectives article. He finds that among the regions, the Southeast has virtually the same volatility in the growth of income as that of the U.S. aggregate and that the Great Lakes region is similar to the Southeast in this regard. Only the Plains region is more sensitive to the U.S. cycle, while the other five regions are less sensitive

Kaglik and Munley outline the methods the Chicago Federal Reserve Bank uses to understand the regional economy the Bank serves. The regional analyses that result from these efforts is useful not only to the Federal Reserve in its economic and financial policy goals, but to the Bank's customers and other participants in the regional, national, and even international economies. …