Modelling and analysis of trajectories of economic development on the basis of discrete Solow model

Vitlinskiy Valdemar Vladimirovich (), Kolyada Yurii V. and Baranov Konstantin O. ()
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Vitlinskiy Valdemar Vladimirovich: Kyiv National Economic University named after. V. Getman
Kolyada Yurii V.: Kyiv National Economic University named after. V. Getman
Baranov Konstantin O.: Kyiv National Economic University named after. V. Getman

The Problems of Economy, 2013, issue 1, 353_362

Abstract: The article uses isomorphism of the discrete variant of the Solow model and classic logistic mapping to obtain the following: analogous to the theory of orthodox logistic mapping (with one r-parameter) for its modification, which is characterised by two numeric parameters r and a, it builds a map of dynamic modes on the plane of mentioned parameters; areas are shown where one can observe various behaviour of the resulting Xn+1 value, including the area of determined chaos; bifurcation diagrams of modified logistic mapping are provided: their comparison with classical data testifies to appearance of a more complex structure of immixture (so-called window-strips are not available). The article studies influence of delay upon trajectories of economic development, based on the use of logistic mapping in the form of Henon algorithm. It empirically finds the numeric value b=0,15 of the Henon constant for modelling non-linear dynamics of an economic system (in literature b=0,3).

Keywords: capital of economic system; Solow model; computer modelling; generalised logistic mapping; modified Henon algorithm; non-linear economy (search for similar items in EconPapers)
Date: 2013
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