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Comparative Asymptotic Analysis of Economic Modeling Techniques Under Tariff Perturbations: Demonstrating the Superiority of Delayed Differential Equations (DDEs)

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  • Pal, Hemendra

Abstract

Economic modeling plays a crucial role in understanding the dynamics of policy shifts, such as tariff perturbations, on national and global economies. This paper provides a comparative analysis of four prevalent modeling techniques—Laplace Transform, Ordinary Differential Equations (ODEs), Partial Differential Equations (PDEs), and Delayed Differential Equations (DDEs). The paper demonstrates that while traditional models like ODEs and PDEs are useful in certain contexts, DDEs are superior for modeling economic systems with time delays and feedback mechanisms, which are inherent in many real-world scenarios, particularly when assessing the effects of tariff changes.

Suggested Citation

  • Pal, Hemendra, 2025. "Comparative Asymptotic Analysis of Economic Modeling Techniques Under Tariff Perturbations: Demonstrating the Superiority of Delayed Differential Equations (DDEs)," MPRA Paper 124769, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:124769
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    File URL: https://mpra.ub.uni-muenchen.de/124769/1/MPRA_paper_124769.pdf
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    References listed on IDEAS

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    1. Hemendra Pal, 2025. "Modeling the dynamic effects of tariffs on economic variables and trade policies," Future Business Journal, Springer, vol. 11(1), pages 1-14, December.
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      Keywords

      Economic Modeling; Tariff Perturbations; Laplace Transform; Ordinary Differential Equations; Partial Differential Equations; Delayed Differential Equations.;
      All these keywords.

      JEL classification:

      • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
      • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
      • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling
      • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
      • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
      • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
      • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models

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