Open AccessModel of Determination of the Dynamical Stability of Economic Systems
Author(s) -
Елена Костенко,
Vitaly Kostenko,
В. М. Кузниченко,
Volodymyr Lapshyn
Publication year - 2015
Publication title -
research in applied economics
Language(s) - English
Resource type - Journals
ISSN - 1948-5433
DOI - 10.5296/rae.v7i2.7048
Subject(s) - stability (learning theory) , function (biology) , maxima and minima , interpolation (computer graphics) , state (computer science) , parametric statistics , mathematics , standard deviation , computer science , algorithm , mathematical analysis , statistics , telecommunications , evolutionary biology , machine learning , biology , frame (networking)
The article proposes an algorithm to qualitatively determine the dynamic state of an economic system. The base data for the algorithm are the current values of the parameter that describes the deviation of the system from equilibrium. The method of phase planes is partially used. The interpolation of the statistical data of the system parameter as a function of time, as well as the parametric definition of the forces that act on the system, allows for the determination of its potential functions and points of equilibrium. The characteristics of the points of equilibrium, namely their extrema type, determine the areas of the systems stability and instability. The use of standard computer programs allows for the analytical and graphical (by analysing the form of the potential function) determination of the dynamic stability of a system, by looking at the current parameters of the system. A demonstration of the algorithm is given in an example.