Scientific Journal of KubSAU

A simple climate–economic model based on the AK model of economic growth with the endogenous depreciation rate linear in temperature and on the exogenous climate scenario with temperature linear in time is considered. The analytical solution of the model is obtained. The uncertainty of temperature projections is introduced in the model, and the moments of model state variable are calculated analytically. Numerical examples are provided

A modified version of the Solow model with endogenous technical progress is considered that exerts “explosive”, singular growth. A formula for the point of time of singularity is derived. The model is “upgraded” to a climate–economy model (an Integrated Assessment model) describing the growth of the world economy under conditions of global climate change. A non-trivial stationary solution of the model is obtained. It is shown that this solution is unstable, and that the developed model manifests “explosive growth” like the initial modification of the Solow model

In the present study, the calculations of price dynamics are made in the model of a financial market consisting of fundamentalist and noise traders. Numerical calculations are carried out in accordance with the full Walrasian dynamic price adjustment rule. To describe fluctuations in the number of optimistic and pessimistic noise traders, a seminal stochastic Kirman’s ant model (reducible to a Markov chain) is used, as well as its modification with different scaling properties of the parameter controlling the strength of herding behavior of noise agents

The Structural Dynamic Economic Model SDEM-2 is essentially a model of a closed economy growing under conditions of conflict of interests of two powerful aggregate actors: entrepreneurs and wage-earners. We study the economic growth within SDEM-2 both in system dynamic and optimization model setups. For the system dynamic model setup, four alternative control strategies of entrepreneurs are considered in detail: the “altruistic” control strategy, the “moderate output growth” control strategy, the “here and now” control strategy, and the “moderate dividend growth” control strategy. In the optimization setup the Pontryagin's maximum principle is applied to SDEM-2 to solve the linear and logarithmic utility maximization problems. The degree of sub-optimality of system dynamic solutions is evaluated