IDEAS home Printed from https://ideas.repec.org/a/taf/ecsysr/v27y2015i1p122-131.html
   My bibliography  Save this article

On The Economic Interpretation Of The Br�Dy Conjecture

Author

Listed:
  • Henryk Gurgul
  • Tomasz W�jtowicz

Abstract

The aim of the paper is to study the economic aspects of the Br�dy conjecture: an increase in the size of a (random) input matrix causes a decline in the ratio of its subdominant and dominant eigenvalues and implies faster convergence to equilibrium [Br�dy, A. (1997) The Second Eigenvalue of the Leontief Matrix. Economic Systems Research , 9, 253-258]. Simulation results provide evidence that this ratio depends inversely on the level of data aggregation and can therefore not be a good indicator of the speed of convergence of an economy to its equilibrium path. We show that this is consistent with findings based on actual input-output tables of EU member states. These results imply that theorems about the speed of convergence of random matrices are not useful in describing the cyclical dynamics of real economies.

Suggested Citation

  • Henryk Gurgul & Tomasz W�jtowicz, 2015. "On The Economic Interpretation Of The Br�Dy Conjecture," Economic Systems Research, Taylor & Francis Journals, vol. 27(1), pages 122-131, March.
  • Handle: RePEc:taf:ecsysr:v:27:y:2015:i:1:p:122-131
    DOI: 10.1080/09535314.2014.979138
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09535314.2014.979138
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/09535314.2014.979138?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ferrer-Hernández , Jacobo & Torres-González, Luis Daniel, 2022. "Some Recent Developments on the Explanation of the Empirical Relationship between Prices and Distribution," Centro Sraffa Working Papers CSWP54, Centro di Ricerche e Documentazione "Piero Sraffa".
    2. Luis Daniel Torres Gonzalez, 2017. "Regularities in Prices of Production and the Concentration of Compositions of Capitals," Working Papers 1709, New School for Social Research, Department of Economics.
    3. Jacobo Ferrer-Hernández & Luis Daniel Torres-González, 2021. "Eigenvalues and Eigenlabors: On Iliadi’s, Mariolis’, Soklis’, and Tsoulfidis’ Explanation of the Empirical Regularities in Price Curves," Working Papers 2119, New School for Social Research, Department of Economics.
    4. Theodore Mariolis & Lefteris Tsoulfidis, 2018. "Less Is More: Capital Theory And Almost Irregular-Uncontrollable Actual Economies," Contributions to Political Economy, Cambridge Political Economy Society, vol. 37(1), pages 65-88.
    5. Mariolis, Theodore & Tsoulfidis, Lefteris, 2016. "Capital theory: Less is more," MPRA Paper 75923, University Library of Munich, Germany.
    6. Anwar Shaikh & Luiza Nassif, 2018. "Eigenvalue distribution, matrix size and the linearity of wage-profit curves," Working Papers 1812, New School for Social Research, Department of Economics.
    7. Kemp-Benedict, Eric, 2018. "Investing in a Green Transition," Ecological Economics, Elsevier, vol. 153(C), pages 218-236.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:ecsysr:v:27:y:2015:i:1:p:122-131. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CESR20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.