Economic Dynamics with Memory: Fractional Calculus Approach

✍ Scribed by Vasily E. Tarasov; Valentina V. Tarasova

• Publisher: De Gruyter
• Year: 2021
• Tongue: English
• Leaves: 602
• Series: Fractional Calculus in Applied Sciences and Engineering; 8
• Category: Library

✦ Synopsis

This book presents the applications of fractional calculus, fractional operators of non-integer orders and fractional differential equations in describing economic dynamics with long memory. Generalizations of basic economic concepts, notions and methods for the economic processes with memory are suggested. New micro and macroeconomic models with continuous time are proposed to describe the fractional economic dynamics with long memory as well.

Presents the applications of modern fractional calculus in the dynamics of economic processes with long memory
Discusses new micro and macroeconomic models with continuous time
Multi-disciplinary topics suited for wide readership

✦ Table of Contents

Preface
Contents
Introduction: economics with memory
Part I: Concept of memory
1 Concept of memory in economics
Part II: Concepts of economics with memory
2 Concepts of marginal values with memory
3 Marginal values of noninteger order in economic analysis
4 Deterministic factor analysis of processes with memory
5 Elasticity for processes with memory
6 Multiplier for processes with memory
7 Accelerator for processes with memory
8 Duality of multipliers and accelerators with memory
Part III: Linear models of economics with memory
9 Model of natural growth with memory
10 Model of growth with constant pace and memory
11 Harrod–Domar growth model with memory
12 Dynamic intersectoral Leontief models with memory
13 Market price dynamics with memory effects
14 Cagan model of inflation with memory
Part IV: Nonlinear models of economics with memory
15 Model of logistic growth with memory
16 Kaldor-type model of business cycles with memory
17 Solow models with power-law memory
18 Lucas model of learning with memory
19 Self-organization of processes with memory
Part V: Advanced models: distributed lag and memory
20 Multipliers and accelerators with lag and memory
21 Harrod–Domar model with memory and distributed lag
22 Dynamic Keynesian model with memory and lag
23 Phillips model with distributed lag and memory
Part VI: Advanced models: discrete time approach
24 Discrete accelerator with memory
25 Comparison of discrete and continuous accelerators
26 Exact discrete accelerator and multiplier with memory
27 Logistic map with memory from economic model
Part VII: Advanced models: generalized memory
28 Economics model with generalized memory
Part VIII: Instead of conclusion
29 Fractional calculus in economics and finance
30 Future directions of economics with memory
Bibliography
Index