; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "A Dynamic Index Model for Large Cross Sections"; ; "batchuser@example.com"; "Sargent, Thomas J.", "Quah, Danny"; "Federal Reserve Bank of Minneapolis"; "E27 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications"; "This paper shows how standard methods can be used to formulate and estimate a dynamic index model for random fields—stochastic processes indexed by time and cross section where the time-series and cross-section dimensions are comparable in magnitude. We use these to study dynamic comovements of sectoral employment in the U.S. economy. The dynamics of employment in sixty sectors is well explained using only two unobservable factors; those factors are also strongly correlated with GNP growth. "^^; "1992-11-01"; "2019-05-21T18:00:52.274342524+00:00"^^; "https://doi.org/10.21034/dp.77"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:46:12 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "692", "634"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "077"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; "Published in: Stock, J., & M. Watson, eds. _Business Cycles, Indicators, and Forecasting_. University of Chicago Press, 1993."^^; ; "Publication" . ; .