Regional Aggregate Indicators Under Subnational Heterogeneity: Evidence from the COVID-19 Pandemic in Spain
This article addresses the lack of timely regional economic data in Spain during the COVID-19 pandemic. It develops monthly regional aggregate indicators using a Dynamic Factor Model (DFM) with mixed-frequency data and recursive variable selection tailored to each region’s economic structure. The st...
| Autores: | , , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2023 |
| País: | España |
| Institución: | Universidad Católica San Antonio de Murcia (UCAM) |
| Repositorio: | RIUCAM. Repositorio Institucional de la Universidad Católica San Antonio de Murcia |
| OAI Identifier: | oai:repositorio.ucam.edu:10952/9835 |
| Acceso en línea: | http://hdl.handle.net/10952/9835 |
| Access Level: | acceso abierto |
| Palabra clave: | Regional heterogeneity Aggregate indicators Factor model Variable selection Asymmetric shocks Synchronization |
| Sumario: | This article addresses the lack of timely regional economic data in Spain during the COVID-19 pandemic. It develops monthly regional aggregate indicators using a Dynamic Factor Model (DFM) with mixed-frequency data and recursive variable selection tailored to each region’s economic structure. The study finds significant heterogeneity in economic impacts and recovery trajectories across Spanish regions, stressing the need for high-frequency, region-specific monitoring tools. The results support the design of adaptive economic policies in response to asymmetric shocks like pandemics, particularly within decentralized national frameworks. |
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