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

Bernd Süssmuth, Department of Business and Economics, Munich University of Technology, Germany
Ulrich Woitek, 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.

Recommended Citation

Bernd Süssmuth and Ulrich Woitek (2005) "Some New Results on Industrial Sector Mode-Locking and Business Cycle Formation", Studies in Nonlinear Dynamics & Econometrics: Vol. 9: No. 3, Article 1.
http://www.bepress.com/snde/vol9/iss3/art1

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sussmuth_datacode.zip (170 kB)
Data and code

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