Three Essays on Macroeconomic and Econometric Analysis of Business Cycle

The third paper explores a methodology applicable to generating a regional economic activity index. There have been some attempts to develop a comprehensive index using either the coincident composite index model or the dynamic factor model. This paper suggests a modified principal components regression method: using the Chicago Federal Reserve Bank National Activity Index (CFNAI) and local economic indicators, local and national factors are extracted by applying the partitioned regression and the principal components method. From these results, a local economic activity index is generated through combining national components with local components by a regression method. Three experimental local indices for the Chicago Metropolitan area are produced.

Name thesis:degree_name

Ph.D.

Level thesis:degree_level

Dissertation

Discipline thesis:degree_discipline

Economics

Grantor

University of Illinois at Urbana-Champaign

Year dc:date

2015

Author dc:creator

• Park, Yang Su

Contributors dc:contributor

• Villamil, Anne P.

• Economics, General

Language dc:language

eng

Identifier

(MiAaPQ)AAI3131004

OAI identifier oai:identifier

oai:www.ideals.illinois.edu:2142/85546