Shocks and Regional Economic Resilience

2017 ◽  
Author(s):  
Harold Wolman ◽  
Howard Wial ◽  
Travis St. Clair ◽  
Edward Hill
Keyword(s):  
Great Recession ◽  
Regional Economies ◽  
Economic Shocks ◽  
Economic Resilience ◽  
Regional Economic ◽  
The Great Recession ◽  
The Face

The chapter examines shocks to regional economies, the extent to which regions are resistant to these shocks, whether regions that are adversely affected by these shocks are resilient in the face of them and why. We begin by defining and operationalizing economic shocks and the various ways in which they might affect regional economies. The analytic part of the chapter is devoted to quantitative descriptions and analyses of regional economic shocks and their determinants, causes, and consequences during the period 1978 to 2007 and then, separately, in a period coinciding with the Great Recession and its recovery, from 2007 to 2014.

scholarly journals Regional Economie Resilienee: A Sehumpeterian Perspective

2014 ◽  
Vol 72 (2) ◽  
pp. 103-116 ◽  
Author(s):  
James Simmie
Keyword(s):  
Innovation Systems ◽  
Economic Recovery ◽  
Regional Economies ◽  
Regional Innovation Systems ◽  
Regional Innovation ◽  
Economic Shocks ◽  
Economic Resilience ◽  
Long Run ◽  
The Face

Abstract This paper takes up the Schumpeterian argument that innovations drive economic recovery following cyclical phases of recession and depression. The performance of the regional innovation systems of two contrasting regions in England is examined in the light of this argument. It is shown that the long-term development of the regions' respective innovation systems contributed significantly to the long-run adaptation and consequential economic resilience of their economies in the face of periodic external economic shocks. It is also argued that regional innovation systems policies can contribute to the adaptation of regional economies and therefore their economic resilience.

scholarly journals The populist politics of Euroscepticism in times of crisis: Comparative conclusions

Politics ◽  
2018 ◽  
Vol 38 (3) ◽  
pp. 378-390 ◽  
Author(s):  
Andrea LP Pirro ◽  
Paul Taggart ◽  
Stijn van Kessel
Keyword(s):  
Political Parties ◽  
Great Recession ◽  
Right Wing ◽  
National Data ◽  
The Great Recession ◽  
The United Kingdom ◽  
The Face ◽  
Left And Right ◽  
The Impact ◽  
Cross National

This article offers comparative findings of the nature of populist Euroscepticism in political parties in contemporary Europe in the face of the Great Recession, migrant crisis, and Brexit. Drawing on case studies included in the Special Issue on France, Germany, Greece, Italy, the Netherlands, Portugal, Spain, and the United Kingdom, the article presents summary cross-national data on the positions of parties, the relative importance of the crisis, the framing of Euroscepticism, and the impact of Euroscepticism in different country cases. We use this data to conclude that there are important differences between left- and right-wing variants of populist Euroscepticism, and that although there is diversity across the cases, there is an overall picture of resilience against populist Euroscepticism.

scholarly journals Geographic Dispersion of Economic Shocks: Evidence from the Fracking Revolution

2017 ◽  
Vol 107 (4) ◽  
pp. 1313-1334 ◽  
Author(s):  
James Feyrer ◽  
Erin T. Mansur ◽  
Bruce Sacerdote
Keyword(s):  
Great Recession ◽  
Oil And Gas ◽  
Gas Production ◽  
Economic Shocks ◽  
New Production ◽  
Oil And Gas Production ◽  
Geographic Dispersion ◽  
The Great Recession ◽  
Business Income ◽  
Wage Income

We track the geographic and temporal propagation of local economic shocks from new oil and gas production generated by hydrofracturing. Each million dollars of new production produces $80,000 in wage income and $132,000 in royalty and business income within a county. Within 100 miles, one million dollars of new production generates $257,000 in wages and $286,000 in royalty and business income. Roughly two-thirds of the wage income increase persists for two years. Assuming no general equilibrium effects, new extraction increased aggregate US employment by as many as 640,000, and decreased the unemployment rate by 0.43 during the Great Recession. (JEL D86, L14, L81, L82)

scholarly journals Universal resilience patterns in labor markets

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Esteban Moro ◽  
Morgan R. Frank ◽  
Alex Pentland ◽  
Alex Rutherford ◽  
Manuel Cebrian ◽  
...  
Keyword(s):  
Labor Market ◽  
Labor Markets ◽  
Great Recession ◽  
Urban Policy ◽  
Economic Resilience ◽  
The Great Recession ◽  
Us Economy ◽  
The Us ◽  
Skill Requirements ◽  
Us Cities

AbstractCities are the innovation centers of the US economy, but technological disruptions can exclude workers and inhibit a middle class. Therefore, urban policy must promote the jobs and skills that increase worker pay, create employment, and foster economic resilience. In this paper, we model labor market resilience with an ecologically-inspired job network constructed from the similarity of occupations’ skill requirements. This framework reveals that the economic resilience of cities is universally and uniquely determined by the connectivity within a city’s job network. US cities with greater job connectivity experienced lower unemployment during the Great Recession. Further, cities that increase their job connectivity see increasing wage bills, and workers of embedded occupations enjoy higher wages than their peers elsewhere. Finally, we show how job connectivity may clarify the augmenting and deleterious impact of automation in US cities. Policies that promote labor connectivity may grow labor markets and promote economic resilience.

scholarly journals Regional Resilience in Ireland and the Existence of a Two-Tier Recovery

2018 ◽  
Vol 37 (4) ◽  
pp. 99-110 ◽  
Author(s):  
Barraí Hennebry
Keyword(s):  
Great Recession ◽  
Urban Areas ◽  
Regional Disparities ◽  
Descriptive Statistics ◽  
Gdp Per Capita ◽  
Economic Resilience ◽  
Regional Resilience ◽  
The Great Recession ◽  
Urban Rural ◽  
Per Capita

Abstract This paper focuses on the increasing regional disparities in Ireland, especially since the great recession and assesses the degree to which the recovery has been concentrated in urban areas. Ireland was initially affected by the recession to a greater extent than other countries but has recovered strongly. However, this recovery has not been evenly distributed, with some regions showing greater economic resilience. Using descriptive statistics of GDP per capita (PPP), GVA and employment, this paper examines the extent to which the recovery has been a two-tier recovery. The paper finds evidence to suggest that the recovery has been heavily concentrated in Dublin, and to a lesser extent in Cork and Galway, resulting in an urban-rural divide.

scholarly journals Resilient Micropolitan Areas in the Face of Econ. Shocks:Stakeholder Collective Capacity Perspective

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Cristina Poleacovschi ◽  
Arielle True-Funk ◽  
Monica A Haddad ◽  
David Peters
Keyword(s):  
Organizational Capacity ◽  
Economic Shocks ◽  
Economic Resilience ◽  
Face To Face ◽  
For Profit ◽  
Government Organizations ◽  
Key Stakeholders ◽  
The Face ◽  
Local Companies ◽  
Collective Capacity

Micropolitan areas (between 10,000 and 50,000 people) are not immune to economic shocks that threaten their vitality. Factors related to economic shocks can range from local companies leaving a town or national economic crises affecting local economies. Using the perspective of local micropolitan area stakeholders, this research seeks to identify why certain micropolitan areas recover from an economic shock while others do not. The research included the case study of two micropolitan areas in the U.S. Midwest (one resilient and one vulnerable), based on 22 interviews with key stakeholders representing diverse for-profit and government organizations. Our results reveal differences in the collective capacity and its underlying practices in the two micropolitan areas. We found that stakeholders built collective capacity by aligning effort, interacting face-to-face, supporting participation, sharing identity and building organizational capacity. Collective capacity ultimately enhanced the resilient micropolitan area’s ability to adopt place-based, or localized, strategies at a higher rate and larger scale than the vulnerable micropolitan area. The results contribute to theory of constitutive collaboration and help policy makers and stakeholders make informed decisions regarding practices to promote economic resilience.

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