An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations
This article proposes two conformal Solow models (with and without migration), accompanied by simulations for six Organisation for Economic Co-operation and Development economies. The models are proposed by employing suitable Inada conditions on the Cobb–Douglas function and making use of the trunca...
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| Format: | Article |
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MDPI AG
2021-07-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/9/15/1780 |
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| author | Luis A. Quezada-Téllez Guillermo Fernández-Anaya Dominique Brun-Battistini Benjamín Nuñez-Zavala Jorge E. Macías-Díaz |
| author_facet | Luis A. Quezada-Téllez Guillermo Fernández-Anaya Dominique Brun-Battistini Benjamín Nuñez-Zavala Jorge E. Macías-Díaz |
| author_sort | Luis A. Quezada-Téllez |
| collection | DOAJ |
| description | This article proposes two conformal Solow models (with and without migration), accompanied by simulations for six Organisation for Economic Co-operation and Development economies. The models are proposed by employing suitable Inada conditions on the Cobb–Douglas function and making use of the truncated <i>M</i>-derivative for the Mittag–Leffler function. In the exact solutions derived in this manuscript, two new parameters play an important role in the convergence towards, or the divergence from, the steady state of capital and per capita product. The economical dynamics of these nations are influenced by the intensity of the capital and labor factors, as well as the level of depreciation, the labor force rate and the level of saving. |
| first_indexed | 2024-03-10T09:12:07Z |
| format | Article |
| id | doaj.art-793e4994c11043608d114a35e910e2f8 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-03-10T09:12:07Z |
| publishDate | 2021-07-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-793e4994c11043608d114a35e910e2f82023-11-22T05:56:34ZengMDPI AGMathematics2227-73902021-07-01915178010.3390/math9151780An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and SimulationsLuis A. Quezada-Téllez0Guillermo Fernández-Anaya1Dominique Brun-Battistini2Benjamín Nuñez-Zavala3Jorge E. Macías-Díaz4Departamento de Física y Matemáticas, Universidad Iberoamericana, Mexico City 01219, MexicoDepartamento de Física y Matemáticas, Universidad Iberoamericana, Mexico City 01219, MexicoDepartamento de Física y Matemáticas, Universidad Iberoamericana, Mexico City 01219, MexicoDepartamento de Física y Matemáticas, Universidad Iberoamericana, Mexico City 01219, MexicoDepartment of Mathematics and Didactics of Mathematics, Tallinn University, 10120 Tallinn, EstoniaThis article proposes two conformal Solow models (with and without migration), accompanied by simulations for six Organisation for Economic Co-operation and Development economies. The models are proposed by employing suitable Inada conditions on the Cobb–Douglas function and making use of the truncated <i>M</i>-derivative for the Mittag–Leffler function. In the exact solutions derived in this manuscript, two new parameters play an important role in the convergence towards, or the divergence from, the steady state of capital and per capita product. The economical dynamics of these nations are influenced by the intensity of the capital and labor factors, as well as the level of depreciation, the labor force rate and the level of saving.https://www.mdpi.com/2227-7390/9/15/1780Solow growth modeltruncated M-derivativefractional operatorsInada conditions |
| spellingShingle | Luis A. Quezada-Téllez Guillermo Fernández-Anaya Dominique Brun-Battistini Benjamín Nuñez-Zavala Jorge E. Macías-Díaz An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations Mathematics Solow growth model truncated M-derivative fractional operators Inada conditions |
| title | An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations |
| title_full | An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations |
| title_fullStr | An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations |
| title_full_unstemmed | An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations |
| title_short | An Economic Model for OECD Economies with Truncated <i>M</i>-Derivatives: Exact Solutions and Simulations |
| title_sort | economic model for oecd economies with truncated i m i derivatives exact solutions and simulations |
| topic | Solow growth model truncated M-derivative fractional operators Inada conditions |
| url | https://www.mdpi.com/2227-7390/9/15/1780 |
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