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...
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| Format: | Article |
| Language: | English |
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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 |
| _version_ | 1818240186177290240 |
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| author | Wentao Wang Wei Chen |
| author_facet | Wentao Wang Wei Chen |
| author_sort | Wentao Wang |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-12T13:09:26Z |
| format | Article |
| id | doaj.art-38290a0321cd4fb4bdc2c46008d17b74 |
| institution | Directory Open Access Journal |
| issn | 1687-1847 |
| language | English |
| last_indexed | 2024-12-12T13:09:26Z |
| publishDate | 2019-08-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Advances in Difference Equations |
| spelling | doaj.art-38290a0321cd4fb4bdc2c46008d17b742022-12-22T00:23:33ZengSpringerOpenAdvances in Difference Equations1687-18472019-08-01201911810.1186/s13662-019-2292-0Stochastic delay differential neoclassical growth modelWentao Wang0Wei Chen1School of Mathematics, Physics and Statistics, Shanghai University of Engineering ScienceSchool of Statistics and Mathematics, Shanghai Lixin University of Accounting and FinanceAbstract 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.http://link.springer.com/article/10.1186/s13662-019-2292-0Stochastic delayed differential equationBrownian motionNeoclassical growth modelItô formula |
| spellingShingle | Wentao Wang Wei Chen Stochastic delay differential neoclassical growth model Advances in Difference Equations Stochastic delayed differential equation Brownian motion Neoclassical growth model Itô formula |
| title | Stochastic delay differential neoclassical growth model |
| title_full | Stochastic delay differential neoclassical growth model |
| title_fullStr | Stochastic delay differential neoclassical growth model |
| title_full_unstemmed | Stochastic delay differential neoclassical growth model |
| title_short | Stochastic delay differential neoclassical growth model |
| title_sort | stochastic delay differential neoclassical growth model |
| topic | Stochastic delayed differential equation Brownian motion Neoclassical growth model Itô formula |
| url | http://link.springer.com/article/10.1186/s13662-019-2292-0 |
| work_keys_str_mv | AT wentaowang stochasticdelaydifferentialneoclassicalgrowthmodel AT weichen stochasticdelaydifferentialneoclassicalgrowthmodel |