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Some New Results on Industrial Sector Mode-Locking and Business Cycle Formation

Author

Listed:
  • Süssmuth Bernd

    () (Department of Business and Economics, Munich University of Technology, Germany)

  • Woitek Ulrich

    () (Institute for Empirical Research in Economics, University of Zurich, Switzerland)

Abstract

Business cycles in different industries have a tendency to synchronize with one another in what appears to be a national business cycle. Using simulation and time series techniques in the time and frequency domain, we offer econometric support for the industrial sector mode-locking hypothesis, extending recent work by Selover, Jensen and Kroll (2003). In addition, we propose an economic motivation of the underlying nonlinear model.

Suggested Citation

  • Süssmuth Bernd & Woitek Ulrich, 2005. "Some New Results on Industrial Sector Mode-Locking and Business Cycle Formation," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 9(3), pages 1-35, September.
  • Handle: RePEc:bpj:sndecm:v:9:y:2005:i:3:n:1
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    References listed on IDEAS

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    1. Francis X. Diebold & Glenn D. Rudebusch, 1999. "Business Cycles: Durations, Dynamics, and Forecasting," Economics Books, Princeton University Press, edition 1, number 6636.
    2. Mario Forni & Lucrezia Reichlin, 1998. "Let's Get Real: A Factor Analytical Approach to Disaggregated Business Cycle Dynamics," Review of Economic Studies, Oxford University Press, vol. 65(3), pages 453-473.
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    Cited by:

    1. Mastromarco, Camilla & Woitek, Ulrich, 2007. "Regional business cycles in Italy," Computational Statistics & Data Analysis, Elsevier, vol. 52(2), pages 907-918, October.
    2. Larry Filer & David D. Selover, 2014. "Why Can Weak Linkages Cause International Stock Market Synchronization? The Mode-Locking Effect," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 5(3), pages 20-42, July.

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