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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Main Authors:	Wentao Wang, Wei Chen
Format:	Article
Language:	English
Published:	SpringerOpen 2019-08-01
Series:	Advances in Difference Equations
Subjects:	Stochastic delayed differential equation Brownian motion Neoclassical growth model Itô formula
Online Access:	http://link.springer.com/article/10.1186/s13662-019-2292-0

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spelling	doaj-38290a0321cd4fb4bdc2c46008d17b742020-11-25T03:42:15ZengSpringerOpenAdvances 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
collection	DOAJ
language	English
format	Article
sources	DOAJ
author	Wentao Wang Wei Chen
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
author_facet	Wentao Wang Wei Chen
author_sort	Wentao Wang
title	Stochastic delay differential neoclassical growth model
title_short	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_sort	stochastic delay differential neoclassical growth model
publisher	SpringerOpen
series	Advances in Difference Equations
issn	1687-1847
publishDate	2019-08-01
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.
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
_version_	1724526200284512256

Stochastic delay differential neoclassical growth model

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