On Bródy’s conjecture: facts and figures from the US economy
AbstractBródy’s conjecture is submitted to an empirical test using input-output flow data of varying size for the US economy for the benchmark years 1997 and 2002, as well as for the period 1998-2010. The results suggest that the ratio of the modulus of the subdominant eigenvalue to the dominant one increases both with the size of the matrix and, for the same matrix size, over the years lending support to the view of increasing instability (in the sense of Bródy) for the US economy over the period 1997-2010.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 43719.
Date of creation: May 2012
Date of revision:
Actual Economies; Bródy’s Conjecture; Eigenvalue Distribution; Speed of Convergence;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
- C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-19 (All new papers)
- NEP-HME-2013-01-19 (Heterodox Microeconomics)
- NEP-MAC-2013-01-19 (Macroeconomics)
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