Analysis of stochastic dynamics in discrete-time macroeconomic Kaldor model

The article deals with discrete Kaldor macroeconomic model under the random disturbances. It is shown that in the deterministic version of the model, there are different regimes of dynamics: equilibria, cycles, invariant curves, and chaos. A parametric description of the intervals of structural stability is given for these regimes and the corresponding bifurcations. Under the influence of stochastic perturbations around the deterministic attractors, the stationary probability distributions of random states are formed. To describe the dispersion of random states around equilibria and cycles, the stochastic sensitivity functions technique and the method of confidence ellipses are used. A dependence of the stochastic sensitivity of the system from parameters is studied. The phenomena generated by noise-induced transitions between coexisting attractors are discussed.