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MODELS OF ECONOMIC AND SOCIAL SYSTEMS
Mathematical modeling of stochastic equilibria and business cycles of Goodwin model
I. A. Bashkirtseva, E. D. Ekaterinchuk, T. V. Ryazanova, A. A. Sysolyatina Ural Federal University, 51, Lenina avenue, Ekaterinburg, 620083, Russia
Abstract:
The Goodwin dynamical model under the random external disturbances is considered. A full parametrical analysis for equlibria and cycles of deterministic model is developed. We study probabilistic properties of stochastic attractors using stochastic sensitivity functions technique and numerical methods. A phenomenon of the generation of stochastic business cycles in the zones of stable equilibria is discussed.
Keywords:
Goodwin’s model, business cycle, random pertubation, stochastic sensitivity function, noise-induced transitions.
Received: 21.11.2012 Revised: 20.12.2012
Citation:
I. A. Bashkirtseva, E. D. Ekaterinchuk, T. V. Ryazanova, A. A. Sysolyatina, “Mathematical modeling of stochastic equilibria and business cycles of Goodwin model”, Computer Research and Modeling, 5:1 (2013), 107–118
Linking options:
https://www.mathnet.ru/eng/crm384 https://www.mathnet.ru/eng/crm/v5/i1/p107
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