Deterministic, uncertainty and stochastic models of Kaldor-Kalecki model of business cycles

Authors:
Gabriela Mircea;Mihaela Neamţu;Dumitru Opriş
Affiliations:
Department of Economic Informatics and Statistics, West University of Timişoara, Timişoara, Romania;Department of Economic Informatics and Statistics, West University of Timişoara, Timişoara, Romania;Department of Mathematics, West University of Timişoara, Timişoara, Romania
Venue:
WSEAS Transactions on Mathematics
Year:
2010

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Abstract

This paper presents the Kaldor-Kalecki nonlinear business cycle model of the income. It will take into consideration the investment demand in the form suggested by Rodano. We will analyze the deterministic, uncertainty and stochastic Kaldor-Kalecki models. The dynamics of the mean values and the square mean values of the model's variables are set. Numerical examples are given in the end, to illustrate our theoretical results.