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Dynamics of a Four-Dimensional Economic Model

Author

Listed:
  • Gheorghe Moza

    (Department of Mathematics, Politehnica University of Timisoara, 300006 Timisoara, Romania)

  • Oana Brandibur

    (Department of Mathematics, West University of Timisoara, 300223 Timisoara, Romania)

  • Ariana Găină

    (Department of Mathematics, West University of Timisoara, 300223 Timisoara, Romania)

Abstract

The interdependency between interest rates, investment demands and inflation rates in a given economy has a continuous dynamics. We propose a four-dimensional model which describes these interactions by imposing a control law on the interest rate. By a qualitative analysis based on tools from dynamical systems theory, we obtain in the new model that the three economic indicators can be stabilized to three equilibrium states.

Suggested Citation

  • Gheorghe Moza & Oana Brandibur & Ariana Găină, 2023. "Dynamics of a Four-Dimensional Economic Model," Mathematics, MDPI, vol. 11(4), pages 1-15, February.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:4:p:797-:d:1057801
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    References listed on IDEAS

    as
    1. Pelgrin, Florian & Venditti, Alain, 2022. "On the long-run fluctuations of inheritance in two-sector OLG models," Journal of Mathematical Economics, Elsevier, vol. 101(C).
    2. Jajarmi, Amin & Hajipour, Mojtaba & Baleanu, Dumitru, 2017. "New aspects of the adaptive synchronization and hyperchaos suppression of a financial model," Chaos, Solitons & Fractals, Elsevier, vol. 99(C), pages 285-296.
    3. Chen, Wei-Ching, 2008. "Nonlinear dynamics and chaos in a fractional-order financial system," Chaos, Solitons & Fractals, Elsevier, vol. 36(5), pages 1305-1314.
    4. Škovránek, Tomáš & Podlubny, Igor & Petráš, Ivo, 2012. "Modeling of the national economies in state-space: A fractional calculus approach," Economic Modelling, Elsevier, vol. 29(4), pages 1322-1327.
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