Article
Measuring External Shocks to the City Economy: An Index of Export Prices and Terms of Trade
Real Estate Economics
Document Type
Article
Language
eng
Format of Original
24 p.
Publication Date
3-1-1997
Publisher
Blackwell Publishing
Disciplines
Abstract
This paper details the construction of an index of export goods prices (the Export Price Index or EPI) for a panel of 196 metropolitan areas from 1977 to 1992. The EPI is an indicator of external demand shocks to the city economy which does not suffer from the causal ambiguity of the endogenous indicators such as income, employment or output. The creation of an index of aggregate export prices, the EPI, for the panel of areas provides both academicians and policy analysts with a new exogenous indicator that identifies demand price innovations and the terms of trade shocks to cities.
Citation Information
Anthony Pennington-Cross. "Measuring External Shocks to the City Economy: An Index of Export Prices and Terms of Trade" Real Estate Economics (1997) ISSN: 1080-8620 Available at: http://works.bepress.com/anthony_pennington_cross/6/
Accepted version. Real Estate Economics, Vol. 25, No. 1 (March 1997): 105–128. DOI. © 1997 Blackwell Publishing. Used with permission.
Anthony Pennington-Cross was affiliated with The George Washington University at the time of publication.