Stochastic delay differential neoclassical growth model
Abstract Focusing on delay differential neoclassical growth model in random environments, we introduce the stochastic model to describe the dynamics of the long-run behavior of the economy with a parameter perturbed by white noises. We prove that the global positive solution exists uniquely and esti...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2019-08-01
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| Series: | Advances in Difference Equations |
| Subjects: | |
| Online Access: | http://link.springer.com/article/10.1186/s13662-019-2292-0 |
| Summary: | Abstract Focusing on delay differential neoclassical growth model in random environments, we introduce the stochastic model to describe the dynamics of the long-run behavior of the economy with a parameter perturbed by white noises. We prove that the global positive solution exists uniquely and estimate its ultimate boundedness in mean and sample Lyapunov exponent. Finally, some numerical tests are given to illustrate theoretical results. |
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| ISSN: | 1687-1847 |