Pautas cíclicas de la economía andaluza en el período 1984-2001: un análisis comparado
Javier J. Pérez
Jesús Rodríguez López
In this paper we characterize some cyclical patterns for the Andalusian economy, for the period 1984-2001. Our work is basically an empirical one. Our results show that the Andalusian economy is more volatile than Spain as a whole, although there exist an important degree of coherence between both economies. This result holds at the aggregate level and at the industry level. On average, GDP growth has been higher in Andalusia during expansions, although it has been lower during recessions. The relationship between the fluctuations of income and the fluctuations of the number of unemployed people is shown to be clearly negative, as the theory would predict, but the coefficient of the relation is lower in the case of Andalusia. Moreover, we find the relation not to be symmetric. For a given increase in production, unemployment gets reduced in a larger fraction than the increase that would present in recessions under the same, but negative, increase in production.
Business cycles, Unemployment, Asymmetries, Regional Economics
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