Local Economic Instability and Business Location: The Case of Maine
研究了缅因州地方经济不稳定如何影响企业选址，发现企业偏好短期和季节性稳定的地区，但年度波动不显著阻碍新商业活动，服务业尤其敏感。
<i>This paper investigates the effects of local economic instability on business location in Maine. Instability is represented by the quarterly, six-month, and annual persistence of employment in Maine municipalities, and seasonal spikes in local employment. Regression results suggest that businesses are attracted to areas with high short-term and seasonal stability, but that annual fluctuations in local employment are not a significant deterrent to new business activity. Services businesses are particularly sensitive to local employment fluctuations, presumably because they are often highly integrated into the economy. Findings suggest that policymakers can jointly pursue the objectives of local economic growth and stability.</i>