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Response of nonlinear random business cycle model with time delay state feedback

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  • Li, Jiaorui
  • Ren, Zhengzheng
  • Wang, Zuoren

Abstract

The steady state response and bifurcation of nonlinear random business cycle model to random narrow-band excitation with time delay state feedback are studied in this paper. The method of multiple scales is used to determine the business cycle model of modulation of amplitude and phase. The effects of delay, detuning, bandwidth and magnitude of random excitation on dynamics of the business cycle system are investigated. The results show that the complex dynamics such as bifurcation, jump domain and so on are induced by time delay and the phenomena that multiple solution or bifurcation is induced by noise.

Suggested Citation

  • 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.
    • Handle: RePEc:eee:phsmap:v:387:y:2008:i:23:p:5844-5851
    DOI: 10.1016/j.physa.2008.06.017
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    Cited by:

    1. Lin, Zifei & Li, Jiaorui & Li, Shuang, 2016. "On a business cycle model with fractional derivative under narrow-band random excitation," Chaos, Solitons & Fractals, Elsevier, vol. 87(C), pages 61-70.
    2. Li, Jiaorui & Feng, C.S., 2010. "First-passage failure of a business cycle model under time-delayed feedback control and wide-band random excitation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(24), pages 5557-5562.
    3. 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.
    4. Jochen Jungeilges & Tatyana Ryazanova, 2018. "Output volatility and savings in a stochastic Goodwin economy," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 8(3), pages 355-380, December.

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