A spline collocation approach for a business cycle model with small gestation period in production
by Hussain Ibdah; Suheil A. Khuri; Ali Sayfy
International Journal of Dynamical Systems and Differential Equations (IJDSDE), Vol. 6, No. 2, 2016

Abstract: A B-spline collocation approach is presented for the numerical solution of a business cycle model with a small gestation period in production. The differential equation that models the problem comprises of a nonlinearity that can arise either from the dependence of investment on profits, a Kaldorian-type model, or on capital stocks. The efficiency of the scheme is tested on a number of special cases; it is shown that the nonlinearity leads to a conditionally stable cycle. The rate of convergence is discussed theoretically and verified numerically to be of fourth-order.

Online publication date: Sat, 25-Jun-2016

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