Journal Article

Common trends and cycles and the structure of Florida's economy

Abstract: Florida, like the rest of the nation, has undergone many economic changes in recent decades, including the decline of the manufacturing base and the growth of international trade. In Florida tourism s growing importance has also figured significantly. In addition to changes at the state level, Florida's cities have become less similar over time. ; The author of this article uses multiple cointegration and common cycles analysis to study the interrelationships of labor markets in six Florida MSAs over the past quarter-century. He finds a long-run comovement in these labor markets but also that earlier, close relationships have changed as the economic structures of the MSAs have evolved. ; This analysis helps underline the increasing diversity of influences on the growth trends of Florida MSAs. It also suggests that these MSAs react differently to short-run shocks. Both of these dynamics are important in gauging the differing effects of policy or economic shocks on the state in parts and as a whole.

Keywords: Florida; Labor market; Regional economics;

Bibliographic Information

Provider: Federal Reserve Bank of Atlanta

Part of Series: Economic Review

Publication Date: 1997

Volume: 82

Issue: Q 3

Pages: 60-71