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Mode-Locking and Regional Business Cycle Synchronization*

2005; Wiley; Volume: 45; Issue: 4 Linguagem: Inglês

10.1111/j.0022-4146.2005.00390.x

1467-9787

David D. Selover, Roderick V. Jensen, John H. Kroll,

Market Dynamics and Volatility

Journal of Regional ScienceVolume 45, Issue 4 p. 703-745 Mode-Locking and Regional Business Cycle Synchronization* David D. Selover, David D. Selover Department of Economics, Old Dominion University, Norfolk, VA 23529-0221 (757) 683-3541. E-mail: [email protected]Search for more papers by this authorRoderick V. Jensen, Roderick V. Jensen Department of Physics, Wesleyan University, Middletown, CT 06457. E-mail: [email protected]Search for more papers by this authorJohn Kroll, John Kroll Department of Mathematics, Old Dominion University, Norfolk, VA 23529-0221. E-mail: [email protected]Search for more papers by this author David D. Selover, David D. Selover Department of Economics, Old Dominion University, Norfolk, VA 23529-0221 (757) 683-3541. E-mail: [email protected]Search for more papers by this authorRoderick V. Jensen, Roderick V. Jensen Department of Physics, Wesleyan University, Middletown, CT 06457. E-mail: [email protected]Search for more papers by this authorJohn Kroll, John Kroll Department of Mathematics, Old Dominion University, Norfolk, VA 23529-0221. E-mail: [email protected]Search for more papers by this author First published: 18 October 2005 https://doi.org/10.1111/j.0022-4146.2005.00390.xCitations: 11 * We thank the editor and three anonymous referees for their valuable help and suggestions. We also thank Chip Filer, Jang-Ting Guo, Michael Kouparitsas, and Anil Nair for their help during discussions related to this paper and Vicky Chen for her able research assistance. We also thank Ellen Rissman, Jerry Carlino, and Keith Sill for generously lending us their data. The research for this paper was done while the first author was supported under an Old Dominion University Summer Grant. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Abstract Abstract. Business cycles in different regions of the United States tend to synchronize. This study investigates the reasons behind this synchronization of business cycles and the consequent formation of a national business cycle. Trade between regions may not be strong enough for one region to "drive" business cycle fluctuations in another region. This study suggests that regional business cycles synchronize due to a nonlinear "mode-locking" process in which weakly coupled oscillating systems (regions) tend to synchronize. 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