U.S. Business Cycle Synchronization

This webpage provides supplementary material for the paper "Measuring Business Cycles Intra-Synchronization in US: A Regime-Switching Interdependence Framework" by Danilo Leiva-León

Note. Each frame plots the dynamic multi-dimensional scaling map based on the synchronization distance of the business cycles of U.S. states for the corresponding periods. The closer two states are in the map, the higher is their business cycles synchronization. The distances are normalized with respect to the U.S. national economic activity, the red point in the centre. The size of the points refer to the GDP share of the corresponding state. If two states are placed in the same concentric circle, they are equally in sync with the United States.

Note. Each frame plots the interconnectedness in terms of synchronization between the business cycle phases of U.S. states, for the corresponding period. The closer two states are in the map, the higher is their business cycles synchronization. Each node represents a state and each line represents the link between two states, which takes place only if Pr(V t = 1) > 0.5.