Expansions and recessions in the Mexican states: a classical business cycles approach, 1980.I-2023.III

Resumen

The objective of this paper is to identify and characterize the business cycle regimes of the thirty-two Mexican states over the period 1980.I-2023.III by using a modified version of the classical business cycle methodology proposed by Artis, Kontolemis and Osborn (1997). The results suggest the existence of asymmetries in mean, volatility and duration between expansions and recessions as well as different degrees of synchronization of the cycle regimes across the Mexican states and with the national and the United States cycles which suggests the need of local stabilization policies.