A generalized Goodwin business cycle model in random environment

DOI10.1016/J.JMAA.2016.02.006MaRDI QIDQ5962951zbMATH OpenOpenAlexFDO

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

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)

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Cites work

• scientific article; zbMATH DE number 1239549 (Why is no real title available?)
• A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle
• A clarification of the Goodwin model of the growth cycle
• A remark on the period of the periodic solution in the Lotka-Volterra system
• An analysis of the Keen model for credit expansion, asset price bubbles and financial fragility
• Evolution of predator-prey systems described by a Lotka-Volterra equation under random environment
• Hybrid switching diffusions. Properties and applications
• Non-Gaussian Ornstein-Uhlenbeck-based models and some of their uses in financial economics. (With discussion)
• Option pricing with transaction costs and stochastic interest rate
• Orbits in a stochastic Goodwin-Lotka-Volterra model
• Ornstein-Uhlenbeck processes for geophysical data analysis
• Superposition of Ornstein-Uhlenbeck type processes

Cited in

(5)

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

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