@article{Grimes:292886,
      recid = {292886},
      author = {Grimes, Arthur},
      title = {Intra & Inter-Regional Industry Shocks: A New Metric  with an Application to Australasian Currency Union},
      address = {2005-05},
      number = {1124-2019-3331},
      series = {Motu Working Paper 05 - 03 },
      pages = {27},
      year = {2005},
      abstract = {We place regional industry structures at centre stage in  currency union analysis, decomposing differences between  regional and aggregate cycles into "industry structure" and  "industry cycle" effects. The industry structure effect  indicates whether a region's industry structure causes its  cycle to deviate from the aggregate; the industry cycle  effect indicates the importance of region-specific shocks  in causing a deviation between cycles. We apply the  methodology to Australasia. One region, ACT, has a material  industry structure effect arising from its heavy central  government concentration. No other region has a material  industry structure effect; their cycles differ from the  aggregate due to region-specific shocks.},
      url = {http://ageconsearch.umn.edu/record/292886},
      doi = {https://doi.org/10.22004/ag.econ.292886},
}