@article{ce07ff75215b4609919f5c1adeb90a1a,
title = "Mexican states' business cycles co-movement over the period 2000–2014. A panel data model estimation",
abstract = "This paper examines the business cycle co-movement in Mexican states over the period 2000–2014 by estimating an extended gravitational panel data model. Two different de-trending filters are used to check the robustness of our results. The estimates suggest that the co-movement increases as the size of the states{\textquoteright} economies does so as well as with the productive structure similarities and the relative level of development; however, the co-movement decreases at a diminishing rate with geographical distance. There is also evidence of time-dependent effects. In addition, the existence of moderate co-movements among the states{\textquoteright} cycles suggests that common economic policies may not be suitable for all states, which implies there is a need for specific countercyclical policies to mitigate idiosyncratic shocks.",
author = "Pablo Mej{\'i}a-Reyes and D{\'i}az-Carre{\~n}o, {Miguel {\'A}ngel} and Patricio Aroca",
note = "Funding Information: The first two authors would like to acknowledge the National Council of Science and Technology (CONACYT) of Mexico for their financial support through a research grant with key number CB2012/182471, while the third author would also like to acknowledge FONDAP (15130009-CONICYT of Chile) for the partial funding it provided. In addition, all authors would like to thank Maximiliano Garc{\'i}a-Gonz{\'a}lez for his excellent research assistance as well as the anonymous reviewers for their very useful suggestions. As usual, all remaining errors and omissions are the responsibility of the authors. Funding Information: The first two authors would like to acknowledge the National Council of Science and Technology (CONACYT) of Mexico for their financial support through a research grant with key number CB2012/182471, while the third author would also like to acknowledge FONDAP (15130009‐CONICYT of Chile) for the partial funding it provided. In addition, all authors would like to thank Maximiliano Garc{\'i}a‐Gonz{\'a}lez for his excellent research assistance as well as the anonymous reviewers for their very useful suggestions. As usual, all remaining errors and omissions are the responsibility of the authors. Publisher Copyright: {\textcopyright} 2019 Wiley Periodicals, Inc.",
year = "2019",
month = dec,
day = "1",
doi = "10.1111/grow.12324",
language = "English",
volume = "50",
pages = "1532--1567",
journal = "Growth and Change",
issn = "0017-4815",
publisher = "Wiley-Blackwell Publishing Ltd",
number = "4",
}