Business Cycles In The Contemporary World Description Causes Aggregation And Synchronization 1st Edition Dr Bernd Sssmuth Auth by Dr. Bernd Süssmuth (auth.) 9783790812053, 9783790812336, 9783790812800, 9783790815320, 9783790827187, 3790812056, 3790812331, 3790812803, 3790815322 instant download after payment.

The book provides a thorough and sophisticated descriptive analysis of business cycles in a historical perspective. The study is based on the latest available time series as well as latest techniques from the frequency domain. A combined univariate and bivariate analysis is conducted on the national as well as supranational (G7- and Euro-Area wide) level. Issues of stability, volatility, and cyclicality are investigated jointly. An extensive analysis of US manufacturing investment series on the fairly disaggregated four-digit level highlights the limits of linear models to capture the sectoral aggregation process. Synchronization is modelled by a mode-locking mechanism of industrial investment cycles induced by informational externalities. The model in its stochastic version is numerically simulated to assess an agreement between model and data.