Bilyy, L. A., & Dutka, G. Ya. (2009). Analiz periodychnykh protsesiv ekonomichnoho zrostannya na osnovi modeli chutlyvosti [The Analysis of Periodic Processes of Economic Growth on the Basis of Model of Sensitivity]. Rehional'na ekonomika - Regional Economy, 51(1), 272 p. [in Ukrainian].

Authors

Resume

Publication is devoted to the analysis of nonlinear model of economic growth of Harrod-Domar based on the model of sensitivity to initial conditions. The model is based on assumptions on the nonlinearity of the production function and periodic character of the volume of consumption. Instead of the traditional solution of the Cauchy problem and the definition of economic growth as the end of the transition process is proposed to seek T-periodic solution. Equation of the model with initial conditions at the edges of the period is form two-point boundary value problem. Numerical integration of differential equation in the interval of time equal to the period T and the found solution for t=T is specified by the iterative formula of Newton. The condition for determining periodic solutions is equal to zero objective function.

Keywords:

economic growth, mathematical model, production function, the model of sensitivity