Dynamics of a Nonlinear Business Cycle Model Under Poisson White Noise Excitation

Li Jiaorui () and Li Shuang ()
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Li Jiaorui: Xi’an Statistical Research Institute, Xi’an University of Finance & Economics, Xi’an, 710100, China
Li Shuang: Xi’an Statistical Research Institute, Xi’an University of Finance & Economics, Xi’an, 710100, China

Journal of Systems Science and Information, 2015, vol. 3, issue 2, 176-183

Abstract: Several observations in real economic systems have shown the evidence of non-Gaussianity behavior, and one of mathematical models to describe these behaviors is Poisson noise. In this paper, stationary probability density of a nonlinear business cycle model under Poisson white noise excitation has been studied analytically. By using the stochastic averaged method, the approximate stationary probability density of the averaged generalized FPK equations are obtained analytically. The results show that the economic system occurs jump and bifurcation when there is a Poisson impulse existing in the periodic economic system. Furthermore, the numerical solutions are presented to show the effectiveness of the obtained analytical solutions.

Keywords: business cycle model; Poisson white noise; stationary probability density (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:3:y:2015:i:2:p:176-183:n:7

DOI: 10.1515/JSSI-2015-0176

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