A generalized Goodwin business cycle model in random environment

DOI10.1016/J.JMAA.2016.02.006zbMATH Open1331.91128OpenAlexW2263186083MaRDI QIDQ5962951FDOQ5962951

Authors: Ky Tran, G. Yin, Le Yi Wang 

Publication date: 25 February 2016

Published in: Journal of Mathematical Analysis and Applications (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmaa.2016.02.006

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zbMATH Keywords

business cycleGoodwin modelMarkovian switchingLotka-Volterra model

Mathematics Subject Classification ID

Applications of stochastic analysis (to PDEs, etc.) (60H30) White noise theory (60H40) Economic growth models (91B62)

Cites Work

• Non-Gaussian Ornstein-Uhlenbeck-based models and some of their uses in financial economics. (With discussion)
• A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle
• Hybrid switching diffusions. Properties and applications
• Title not available (Why is that?)
• Evolution of predator-prey systems described by a Lotka-Volterra equation under random environment
• Superposition of Ornstein-Uhlenbeck type processes
• A clarification of the Goodwin model of the growth cycle
• Ornstein-Uhlenbeck processes for geophysical data analysis
• A remark on the period of the periodic solution in the Lotka-Volterra system
• Option Pricing with Transaction Costs and Stochastic Interest Rate
• An analysis of the Keen model for credit expansion, asset price bubbles and financial fragility
• Orbits in a stochastic Goodwin-Lotka-Volterra model

Cited In (4)

• Nonstationary response of a nonlinear economic cycle model under random disturbance
• On laws of large numbers for systems with mean-field interactions and Markovian switching
• A non-linear Keynesian Goodwin-type endogenous model of the cycle: Bayesian evidence for the USA
• Switching diffusions with mean-field interactions: limit results, maximum principle, and non-Markov systems

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