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FIEM042.pdf

Article Title : Study of a Liability Analysis Model based on Hamiltonian System
Author(s) : Chao Wang, Yi Cui
Corresponding Author : Chao Wang
Keywords : Hamilton-Jacobi Equations; Debt Sustainability; Asymptotic Solutions.
PDF : http://download.BCPub.org/proceedings/2020/FIEM2020/FIEM042.pdf
Abstract

This paper proposes a new model for the analysis of liability, builds the relationship between the level of liabilities and macroeconomic variables such as GDP, interest rates, exchange rates. We study the long-time behavior of Hamiltonian dynamic system which models the evolution of the liability. We obtain some examples of Hamiltonians can be adapted to depict the debt sustainability, which satisfy the no-Ponzi game condition.

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