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Oscillatory Dynamics of Industrial Production

Author

Listed:
  • Purica, Ionut

    (Institute for Economic Forecasting, Romanian Academy)

Abstract

GDP and its components’ evolution show an oscillatory behavior. As an alternative approach to classical cyclical behavior producing models the paper analyses this behavior both by Fourier transforms of the data series and by a discussion of the roots configuration of the associated second order differential equations describing the process. Specific cycles that associate with the economic sectors contributing to the generation of GDP are identified. This oscillatory system-based approach is providing a complementary way to describe economic behavior dynamics.

Suggested Citation

  • Purica, Ionut, 2012. "Oscillatory Dynamics of Industrial Production," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 117-128, December.
    • Handle: RePEc:rjr:romjef:v::y:2012:i:4:p:117-128
    as

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    References listed on IDEAS

    as
    1. Prescott, Edward C., 1986. "Theory ahead of business-cycle measurement," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 25(1), pages 11-44, January.
    2. Michal Kalecki, 1937. "A Theory of the Business Cycle," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 4(2), pages 77-97.
    3. Purica, Ionut & Caraiani, Petre, 2009. "Second Order Dynamics Of Economic Cycles," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 6(1), pages 36-47, March.
    4. Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D87 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Neuroeconomics

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