ON BRODY’S CONJECTURE: FACTS AND FIGURES FROM THE US ECONOMY

Theodore Mariolis () and Lefteris Tsoulfidis ()

Discussion Paper Series from Department of Economics, University of Macedonia

Abstract: Brody’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 Brody) for the US economy over the period 1997-2010.

Keywords: Actual economies; Brody’s conjecture; Eigenvalue distribution; Speed of convergence. (search for similar items in EconPapers)
JEL-codes: C62 C67 D57 (search for similar items in EconPapers)
Date: 2012-05, Revised 2012-05
New Economics Papers: this item is included in nep-hme
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Working Paper: On Bródy’s conjecture: facts and figures from the US economy (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:mcd:mcddps:2012_06

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