Analysis of business cycles using a mathematical model of Markov stochastic processes (Q2477464)
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scientific article; zbMATH DE number 5249273
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| English | Analysis of business cycles using a mathematical model of Markov stochastic processes |
scientific article; zbMATH DE number 5249273 |
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Analysis of business cycles using a mathematical model of Markov stochastic processes (English)
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13 March 2008
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In this paper, author attempts to mathematically formalize Schumpeter's theory of business cycles [The theory of economic Ddevelopment, Harvard Univ. Press, Cambridge, MA (1934)] combined with a model of birth-death Markov process, which makes possible to derive explicit analytical dependences describing cyclic oscillations in an economy.
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Business cycles
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birth-death Markov process
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Schumpeter's business cycles theory
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0.8455750942230225
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0.7821710705757141
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0.7731727361679077
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0.7707263827323914
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