Abstract
This paper is an attempt to study, in the context of a simple macroeconomic model, the possible dynamic behaviors that can emerge as a consequence of increased trade relations. According to the different stages of the development and intensity of trade, it is shown that two economies might exhibit dynamic behaviors which lead to frequency locking and bifurcation cascades.
The simplicity of the model and the richness of its dynamic behavior suggests the importance of studying interdependent economies as coupled oscillators, and systems of economies as systems of parallel coupled oscillators.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Artis, M., J., Kotolemis, Z., G. and Osborn, D., R., (1995), Classical Business Cycles for G7 and European Countries,European University Institute, Working Paper ECO No. 95/24.
Artis, M., J. and Zhang, W., (1995), International Business Cycles and the ERM: Is There an European Business Cycle,European University Institute, Working Paper ECO No. 95/34.
Frisch, R. (1933), Propagation Problems and Impulse Problems in Dynamic Economics, in: “Essays in Honour of Gustav Cassel”, ( Allen Unwin, London ), pp. 171–205.
Goodwin, R., M., (1951), The Nonlinear Accelerator and the Persistence of Business Cycles, Econometrica, vol.19, no.1, pp.1–17. (Reprinted in Goodwin, 1982 ).
Goodwin, R., M., (1982), Essays in Economic Dynamics, Macmillan, London.
Hicks J., 1950, A Contribution to the Theory of the Trade Cycle, (Oxford University Press, Ely House, London).
Mosekilde, E., Larsen, E., R., Sterman, J., D., Thomsen, J., S., (1992), Nonlinear Mode-Interaction in The Macroeconomy,Annals of Operations Research, vol.37.
Thompson, J., Stewart, B., 1986, Nonlinear Dynamics and Chaos, (John Wiley and Sons, Chicester, Great Britain).
Thygesen, N., Velupillai, K., Zambelli, S., (eds.) (1991), Business Cycles: Theories, Evidence and Analysis,(Macmillan and the International Economic Association).
Velupillai, K., (1991), Theories of the Trade Cycle: Analytical and Conceptual Perspectives and Perplexities,in
Thygesen (eds.) (1991). Velupillai,K.,(ed.)(1992), Nonlinearities, Disequilibria and Simulation, (Macmillan)
Zambelli, S., (1992), The Wooden Horse That Wouldn’t Rock: Reconsidering Frisch, in: Velupillai (ed.1992), pp.27–56.
Zarnowitz, V., (1985), Recent Work on Business Cycles in Historical Perspective: A Review of Theories and Evidence, Journal of Economic Literature, vol. XXIII.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1997 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Zambelli, S. (1997). Macroeconomic Interdependence and Frequency Locking. In: Conte, R., Hegselmann, R., Terna, P. (eds) Simulating Social Phenomena. Lecture Notes in Economics and Mathematical Systems, vol 456. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-03366-1_24
Download citation
DOI: https://doi.org/10.1007/978-3-662-03366-1_24
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-63329-7
Online ISBN: 978-3-662-03366-1
eBook Packages: Springer Book Archive