Consistent Economic Indexes for the 50 States

By T. Crone. 2003

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Forecasting with Many Predictors (2006, methodology): “The method has also been used to construct regional indexes of coincident indexes, see Clayton-Matthews and Crone (2003).”
Credit Supply and Corporate Innovation (2013, background): “The trend for each state’s index is set to the trend of its gross domestic product (GDP) so that long-term growth in the state’s index matches long-term growth in its GDP (Crone and Clayton-Matthews, 2005).”
Business Cycle Phases in U.S. States (2003, unknown): “To remedy this, we use a regime-switching model and the state coincident index data of Crone (2002) to present evidence regarding state-level business cycle phases.”
Dynamic Factor Models, Factor-Augmented Vector Autoregressions, and Structural Vector Autoregressions in Macroeconomics (2016, background): “Subsequent work with small state-space DFMs include the construction of monthly real activity indices for US states (Crone and Clayton-Matthews, 2005), which has been released in real time by the Federal Reserve Bank of Philadelphia since 2005.”