The Review of Economics and Statistics Vol. 87 No. 4 2005

Consistent Economic Indexes for the 50 States

Theodore M. Crone¹; Alan Clayton-Matthews²

¹ Federal Reserve Bank of Philadelphia · ² University of Massachusetts Boston

Abstract

In the late 1980s James Stock and Mark Watson developed for the U.S. economy an alternative coincident index to the one now published by the Conference Board. They used the Kalman filter to estimate a latent dynamic factor for the national economy and designated the common factor as the coincident index. This paper uses the Stock-Watson methodology to estimate a consistent set of coincident indexes for the 50 states. These indexes provide researchers with a comprehensive monthly measure of economic activity that can be used to examine a number of state and regional issues.

DOI

10.1162/003465305775098242

Volume

87

Issue

4

Pages

593-603

Language

en

Sources

openalex crossref