The study of some stochastic macroeconomic models

Authors:
Mihaela Neamţu;Gabriela Mircea;Marilen Pirtea;Dumitru Opris
Affiliations:
Department of Economics and Business Modelling, West University of Timişoara, Romania;Department of Business Informational System, West University of Timişoara, Romania;Department of Finance, West University of Timişoara, Romania;Department of Mathematics, West University of Timişoara, Romania
Venue:
ACACOS'12 Proceedings of the 11th WSEAS international conference on Applied Computer and Applied Computational Science
Year:
2012

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Abstract

In this paper we present deterministic and stochastic business cycle models with continuous time. We study the dynamical behavior of a deterministic continuous macroeconomic model. Also, the stochastic case is considered. Numerical simulations are performed for the model in order to substantiate the analytical results. Finally, some conclusions and future prospects are provided.