Distance Matters: U.S. States' Business Cycles Synced by Trade Impact
The study looked at how well U.S. states' economies move together. They found that states' business cycles are closely linked, similar to how states in Europe are connected. The distance between states affects how much their economies match up, with closer states trading more and syncing up better. States that focus on specific industries tend to have more different economic cycles compared to the overall U.S. economy.