The fluctuation-dissipation theory is invoked to shed light on input-output industrial correlations at a macroscopic level ; it is applied to the IIP (indices of industrial production) data in Japan. The random matrix theory is adopted to eliminate statistical noises out of the original data. The genuine correlation matrixfor the IIP thus obtained elucidates interindustry correlations in a statistically meaningful way . Our previous paper has demonstrated that the noise elimination procedure was successful in identifying existence of intrinsic business cycles. Here our particular attention is given to relationship between final demand and intermediate production . Also we observe distinctive external stimuli on the Japanese economy exerted by the current global economic crisis. Those stimuli are derived from residual of moving-averaged fluctuations of the IIP left over after subtracting the long-period components due to the business cycles .
In this study, the fluctuation-dissipation theory is invoked to shed light on input-output interindustrial relations at a macroscopic level by its application to IIP (indices of industrial production) data for Japan. Statistical noise arising from finiteness of the time series data is carefully removed by making use of the random matrix theory in an eigenvalue analysis of the correlation matrix; as a result, two dominant eigenmodes are detected . Our previous study successfully used these two modes to demonstrate the existence of intrinsic business cycles. Here a correlation matrix constructed from the two modes describes genuine interindustrial correlations in a statistically meaningful way. Further it enables us to quantitatively discuss the relationship between shipments of final demand goods and production of intermediate goods in a linear response framework. We also investigate distinctive external stimuli for the Japanese economy exerted by the current global economic crisis. These stimuli are derived from residuals of moving average fluctuations of the IIP remaining after subtracting the long-period components arising from inherent business cycles. The observation reveals that the fluctuation-dissipation theory is applicable to an economic system that is supposed to be far from physical equilibrium .
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study successfully used these two modes to demonstrate the
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our particular attention is given to relationship between final demand and intermediate production . Also we observe
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