ISSN: 1204-5357

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Research Article Open Access

MODELING OF THE ECONOMIC CYCLES USING THE THEORY OF FRACTIONAL CALCULUS

Abstract

This paper presents a mathematical model that generalizes the famous Kondratiev cycles model (Dubovskiy model) used to predict economic crises. This generalization is to integrate the memory effect, which occurs frequently in the economic system. With the help of numerical methods, a generalized model was received, according to which the phase paths were built.

DANIL VASILEVICH MAKAROV, ROMAN IVANOVICH PAROVIK

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