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

Author

Listed:
  • Li Jiaorui
  • Li Shuang

    (Xi’an Statistical Research Institute, Xi’an University of Finance & Economics, Xi’an, 710100, China)

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.

Suggested Citation

  • Li Jiaorui & Li Shuang, 2015. "Dynamics of a Nonlinear Business Cycle Model Under Poisson White Noise Excitation," Journal of Systems Science and Information, De Gruyter, vol. 3(2), pages 176-183, April.
    • Handle: RePEc:bpj:jossai:v:3:y:2015:i:2:p:176-183:n:7
    DOI: 10.1515/JSSI-2015-0176
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    References listed on IDEAS

    as
    1. Li, Jiaorui & Ren, Zhengzheng & Wang, Zuoren, 2008. "Response of nonlinear random business cycle model with time delay state feedback," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(23), pages 5844-5851.
    2. Li, Wei & Xu, Wei & Zhao, Junfeng & Jin, Yanfei, 2007. "Stochastic stability and bifurcation in a macroeconomic model," Chaos, Solitons & Fractals, Elsevier, vol. 31(3), pages 702-711.
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