HYPERION ECONOMIC JOURNAL

Hyperion University of Bucharest
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HYPERION ECONOMIC JOURNAL

April 2019
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The nonlinear GDP dynamics

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Authors:
  • Ionuţ Purica, Affiliation: Hyperion University, Bucharest, Romania.
Pages:  42 : 59
Abstract:

The oscillatory behavior of GDP and its components leads to a Fonrier transform analysis that results in the eigen va lues of the dynamic economic system. The larger va lues are dominating the transient behavior of the GDP components and these transients are discussed along with the specific behavior of each component. The second order diferenţia! equations are determined, for each component, to describe the oscillatory behavior and the transient resulting from a step excitation. The natura! frequencies are determined and the correlation ofpairs of components ’ cycles result in ‘beats ’ process where the moclulated wave cycles are compared and discussed. Based on these correlated influence terms the Solutions of the diferenţia! equations of each component are determined along with their evolution in the phase space and with the specific Lagrangian. The possible occurrence of dynamical behavior basins for GDP is explored, associated to time interval least action considerations. Important conclusions are drawn from this analysis on the dynamics of GDP and its components, in terms of general versus local equilibriums and their evolution.

JEL classification:  C3, C61, C62, D7, D87

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