Synchronization of globalized economies

Edagr J. Sánchez Carrera (), Vanesa Avalos-Gaytán () and Yajaira Cardona Valdés ()
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Edagr J. Sánchez Carrera: Department of Economics, Society & Politics, Università di Urbino Carlo Bo - Researh Fellow at the ResearchCenter in Applied Mathematics, Universidad Aut´onoma de Coahuila, Mexico
Vanesa Avalos-Gaytán: ResearchCenter in Applied Mathematics, Universidad Aut´onoma de Coahuila, Mexico
Yajaira Cardona Valdés: ResearchCenter in Applied Mathematics, Universidad Aut´onoma de Coahuila, Mexico
Authors registered in the RePEc Author Service: Edgar J Sánchez Carrera ()

No 1909, Working Papers from University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini

Abstract: Does the synchronization of globalized-oscillating economies matter for macroeconomic outcomes? If so, how oscillating economies are synchornized and conform stable networks. In this paper we apply phase oscillator models such as Kuramoto’s model to understand synchronization phenomena in networks of countries. Our aim is to study a network of interacting phase oscillating economies, and an adaptation mechanism for the coupling that promotes the connection strengths between those elements that are dynamically correlated. Under these circumstances, the dynamical organization of the oscillators/economies shapes the topology of the graph in such a way that modularity and assortativity features emerge spontaneously and simultaneously. Our results show the conformation of the network and the global and local synchronization measures for the 42 oscillating economies during the period from 1960 to 2018, using Trade (% of GDP) data. Moreover, we obtain the measure of local assortativity in the formation of those economies that more or less interact or are connected. We conclude that the Kuramoto model with networks is a useful tool to study economics synchronization.

Keywords: Business Cycles; Complex Systems; Economics of Globalization; Network Topology; Synchronization; Trade Integration. (search for similar items in EconPapers)
JEL-codes: D85 F14 F15 F41 F44 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2019, Revised 2019
New Economics Papers: this item is included in nep-int, nep-net and nep-opm
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http://www.econ.uniurb.it/RePEc/urb/wpaper/WP_19_09.pdf First version, 2019 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:urb:wpaper:19_09

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