U.S. and Canadian industrial production indices as coupled oscillators
AbstractThis paper explores the impact of different types of dynamical linkages (coupling) between the indices of industrial production for the U.S. and Canada. The Ozaki model provides an appropriate empirical framework for analyzing the dynamic path of each economy's productive activity because it provides an effective approximation to continuous time differential equations. We examine a combination of six different types of linkage between the indices of production. Major questions we study include whether the linkages increase or decrease the stability of the equilibrium paths, whether the linkages encourage or discourage business cycle oscillations, and whether the oscillations are synchronized.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 26 (2002)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/jedc
Other versions of this item:
- Anderson, H.M. & Ramsey, J.B., 1999. "U.S. and Canadian Industrial Production Indices as Coupled Oscillators," Working Papers 99-01, C.V. Starr Center for Applied Economics, New York University.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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