DID THE NEW ECONOMY VANQUISH THE REGIONAL BUSINESS CYCLE?
Mark D. Partridge
Dan S. Rickman
The record economic expansion of the 1990s has led many to speculate that the United States is experiencing a New Economy. Along with the belief that strong growth could continue without accelerating inflation, there has been speculation that regional disparities in economic performance are disappearing in the New Economy. The historical patterns of state labor market performance are compared with recent trends to assess whether the 1990s represent a departure from the past. The conclusion is that regional disparities continue to exist. If anything, many of the historical patterns are stronger today than in the 1970s and 1980s. Copyright 2002 Western Economic Association International.
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