A spline collocation approach for a business cycle model with small gestation period in production (Q2289472): Difference between revisions
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Latest revision as of 12:04, 30 July 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A spline collocation approach for a business cycle model with small gestation period in production |
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A spline collocation approach for a business cycle model with small gestation period in production (English)
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23 January 2020
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Summary: A B-spline collocation approach is presented for the numerical solution of a business cycle model with a small gestation period in production. The differential equation that models the problem comprises of a nonlinearity that can arise either from the dependence of investment on profits, a Kaldorian-type model, or on capital stocks. The efficiency of the scheme is tested on a number of special cases; it is shown that the nonlinearity leads to a conditionally stable cycle. The rate of convergence is discussed theoretically and verified numerically to be of fourth-order.
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B-spline collocation
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business cycles
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modelling
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nonlinear differential equations
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delay
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convergence rate
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gestation period
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production
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