Manufacturing Output Indexes for a Metropolitan Area: A Look at New Economic Indicators |
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Authors: | GREGORY D. WOZNIAK |
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Abstract: | The purpose of this paper is to construct monthly manufacturing output indexes for a metropolitan area, employing a method used by the Federal Reserve Banks to construct regional manufacturing indexes. The Tulsa metropolitan area is the region considered. The index of total manufacturing output is included in a vector autoregression model of the Tulsa economy. The results indicate that the linkages between manufacturing activity and non-manufacturing employment differ from the linkages between employment in those sectors, and that since the early 1980s both sectors have become less sensitive to changes in the price of oil. |
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