![](/images/graphics-bg.png)
Modeling of Macroeconomics by a Novel Discrete Nonlinear Fractional Dynamical System
Joint Authors
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2013-12-08
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
We propose a new nonlinear economic system with fractional derivative.
According to the Jumarie’s definition of fractional derivative, we obtain a discrete fractional nonlinear economic system.
Three variables, the gross domestic production, inflation, and unemployment rate, are considered by this nonlinear system.
Based on the concrete macroeconomic data of USA, the coefficients of this nonlinear system are estimated by the method of least squares.
The application of discrete fractional economic model with linear and nonlinear structure is shown to illustrate the efficiency of modeling the macroeconomic data with discrete fractional dynamical system.
The empirical study suggests that the nonlinear discrete fractional dynamical system can describe the actual economic data accurately and predict the future behavior more reasonably than the linear dynamic system.
The method proposed in this paper can be applied to investigate other macroeconomic variables of more states.
American Psychological Association (APA)
Hu, Zhenhua& Chen, Wen. 2013. Modeling of Macroeconomics by a Novel Discrete Nonlinear Fractional Dynamical System. Discrete Dynamics in Nature and Society،Vol. 2013, no. 2013, pp.1-9.
https://search.emarefa.net/detail/BIM-459531
Modern Language Association (MLA)
Hu, Zhenhua& Chen, Wen. Modeling of Macroeconomics by a Novel Discrete Nonlinear Fractional Dynamical System. Discrete Dynamics in Nature and Society No. 2013 (2013), pp.1-9.
https://search.emarefa.net/detail/BIM-459531
American Medical Association (AMA)
Hu, Zhenhua& Chen, Wen. Modeling of Macroeconomics by a Novel Discrete Nonlinear Fractional Dynamical System. Discrete Dynamics in Nature and Society. 2013. Vol. 2013, no. 2013, pp.1-9.
https://search.emarefa.net/detail/BIM-459531
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-459531