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What Causes Cities' Decline During Recessions?

(Photo by Mark Brodie - KJZZ News)
Central Avenue in midtown Phoenix.

Which cities suffer the most during a recession? How about several recessions?

Researchers at the Federal Reserve Bank of St. Louis analyzed how 50 U.S metro areas, including Phoenix, fared during recessions between the 90’s and the Great Recession. Phoenix fared better than cities like Las Vegas, San Jose and Detroit.

Charles Gascon is a regional economist at the Federal Reserve Bank of St. Louis and an author of the paper.

Mark Brodie is a co-host of The Show, KJZZ’s locally produced news magazine. Since starting at KJZZ in 2002, Brodie has been a host, reporter and producer, including several years covering the Arizona Legislature, based at the Capitol.