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Regional Aggregate Indicators Under Subnational Heterogeneity: Evidence from the COVID-19 Pandemic in Spain

dc.contributor.authorLópez Buenache, Germán
dc.contributor.authorPallarés, Nina
dc.contributor.authorZhukova, Vita
dc.date.accessioned2025-07-03T07:18:16Z
dc.date.available2025-07-03T07:18:16Z
dc.date.issued2023-09-30
dc.identifier.citationLopez-Buenache, G., Pallarés, N., & Zhukova, V. (2023). Regional aggregate indicators under subnational heterogeneity: evidence from the COVID-19 pandemic in Spain. Economic research-Ekonomska istraživanja, 36(1), 746-766.es
dc.identifier.issn1848-9664
dc.identifier.urihttp://hdl.handle.net/10952/9835
dc.descriptionThis 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.es
dc.description.abstractThe COVID-19 outbreak forced governments to implement regional measures avoiding the spread of the virus, while evaluat- ing their economic effects. However, official Spanish regional economic information is scarce. We estimate monthly regional aggregated indicators for each Spanish region combining a mixed frequency Dynamic Factor Model with a recursive procedure that identifies the most informative variables capturing economic developments in each region. The set of variables that better describe aggregate economic conditions varies considerably across the regions, which emphasizes the heterogeneity in their productive structures. Our results suggest that the post-pandemic recovery will be uneven across territories, stressing the need to monitor regional economic developments.es
dc.language.isoenes
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectRegional heterogeneityes
dc.subjectAggregate indicatorses
dc.subjectFactor modeles
dc.subjectVariable selectiones
dc.subjectAsymmetric shockses
dc.subjectSynchronizationes
dc.titleRegional Aggregate Indicators Under Subnational Heterogeneity: Evidence from the COVID-19 Pandemic in Spaines
dc.typejournal articlees
dc.rights.accessRightsopen accesses
dc.journal.titleEconomic Research – Ekonomska Istraživanjaes
dc.volume.number36es
dc.issue.number1es
dc.description.disciplineAdministración y Dirección de Empresases
dc.description.disciplineCiencias de la Comunicaciónes
dc.description.disciplineDerechoes
dc.identifier.doi10.1080/1331677X.2022.2119427es
dc.description.facultyCiencias Sociales y de la Comunicaciónes
dc.description.facultyDerechoes
dc.description.facultyEconomía y Empresaes


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