Parameters estimation and stability analysis of nonlinear fractional-order economic system based on empirical data
type: Item
instance of: scholarly article
title: Parameters estimation and stability analysis of nonlinear fractional-order economic system based on empirical data
zbMATH Open document ID: 1406.91268
DOI: 10.1155/2014/130548
author: Lei He
author: Xiong Wang
published in: Abstract and Applied Analysis
publication date: 2019-02-14T00:00:00Z
review text: Summary: This paper is devoted to propose a novel method for studying the macroeconomic system with fractional derivative, which can depict the memory property of actual data of economic variables. First of all, we construct a constrained optimal problem to evaluate the coefficients of nonlinear fractional financial system based on empirical data and design the corresponding genetic algorithm. Then, based on the stability criteria of fractional dynamical systems, the methodology of stability analysis is proposed to investigate the stability of the estimated nonlinear fractional dynamic system. Finally, our method is applied to discuss the macroeconomic system of the US, Australia, and UK to demonstrate its effectiveness and applicability.
Mathematics Subject Classification ID: 91B64
Mathematics Subject Classification ID: 93C10
Mathematics Subject Classification ID: 93C15
Mathematics Subject Classification ID: 93D05
Mathematics Subject Classification ID: 26A33
zbMATH DE Number: 7021768
zbMATH Keywords: nonlinear fractional-order macroeconomic system
zbMATH Keywords: stability
Wikidata QID: Q59035333
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2014/130548
OpenAlex ID: W2048860827
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description: scientific article; zbMATH DE number 7021768