U.S. and Canadian Industrial Production Indices as Coupled Oscillators

Heather M. Anderson and J.B. Ramsey

Working Papers from C.V. Starr Center for Applied Economics, New York University

Abstract: This paper explores the impact of different types of dynamical linkages (coupling) between the indices of industrial production for the U.S. and Canada. The Ozaki model provides an appropriate empirical framework for analyzing the dynamic path of each economy's productive activity because it provides an effective approximation to continuous time differential equations. We examine a combination of six different types of linkage between the indices of production. Major questions we study include whether the linkages increase or decrease the stability of the equilibrium paths, whether the linkages encourage or discourage business cycle oscillations, and whether the oscillations are synchronized.

Keywords: PRODUCTION; PROJECTIONS; ECONOMETRICS (search for similar items in EconPapers)
JEL-codes: C32 E32 (search for similar items in EconPapers)
Date: 1999
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Journal Article: U.S. and Canadian industrial production indices as coupled oscillators (2002)
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Persistent link: http://EconPapers.repec.org/RePEc:cvs:starer:99-01

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