Study reveals how industry cycles impact economy, changing business landscape.
The article explores how business cycles in different industries can affect the overall economy. The researchers used a complex model to study how these cycles spread and change over time. They found that during good and bad economic times, industries can be highly, moderately, or lowly synchronized. When the economy shifts from one phase to another, the synchronization levels also change, moving from moderately synchronized industries to less synchronized ones. This shows that industrial business cycle dynamics are transmitted in a specific order.