Aggregate demand and aggregate supply in UK regions
Michael Funke
(Department of Economics, Hamburg University, Hamburg, Germany)
Stephen Hall
(The Management School, Imperial College, London, UK)
3059
Abstract
UK regional data on GDP and the GDP deflator are analysed to extract information on underlying demand and supply shocks as well as aggregate demand and supply shocks. Identification is achieved using long run restrictions, based on a theoretical model. The main results are that the supply shocks are almost completely symmetric across UK regions and that there is no evidence of these shocks being propagated slowly across the regions.
Keywords
Citation
Funke, M. and Hall, S. (1998), "Aggregate demand and aggregate supply in UK regions", Journal of Economic Studies, Vol. 25 No. 4, pp. 260-276. https://doi.org/10.1108/01443589810220030
Publisher
:MCB UP Ltd
Copyright © 1998, MCB UP Limited