A Stochastic Capital-Labour Model with Logistic Growth Function

DOI10.1007/978-3-031-17558-9_13MaRDI QIDQ6094986zbMATH OpenOpenAlexFDO

Authors Houssine Zine, Jaouad Danane, Delfim F. M. Torres

Publication date 15 September 2023

Published in Dynamic Control and Optimization (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/2202.05348

zbMATH Keywords

Brownian motioncapital-labour mathematical modelextinction and persistencestochastic differential equations

Mathematics Subject Classification ID

Applications of stochastic analysis (to PDEs, etc.) (60H30) Applications of Brownian motions and diffusion theory (population genetics, absorption problems, etc.) (60J70) Labor markets (91B39) Stochastic models in economics (91B70)

Abstract: We propose and study a stochastic capital-labour model with logistic growth function. First, we show that the model has a unique positive global solution. Then, using the Lyapunov analysis method, we obtain conditions for the extinction of the total labour force. Furthermore, we also prove sufficient conditions for their persistence in mean. Finally, we illustrate our theoretical results through numerical simulations.

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Cites work

• A method for solving and estimating heterogeneous agent macro models
• A Stochastic Differential Equation SIS Epidemic Model
• A stochastic model of AIDS and condom use
• A stochastic time-delayed model for the effectiveness of Moroccan COVID-19 deconfinement strategy
• An algorithmic introduction to numerical simulation of stochastic differential equations
• scientific article; zbMATH DE number 7552035 (Why is no real title available?)
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Cited in

(1)

• scientific article; zbMATH DE number 1376691 (Why is no real title available?)

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