Bistability and predefined-time synchronization in the new chaotic economics model with foreign financing
摘要
The dynamics of economic systems often exhibit complex and unpredictable behaviors due to the interplay of various factors. This paper introduces a new three-dimensional economic model that builds upon the Bouali model from 2002, incorporating foreign financing and enhancing the nonlinearity of the system. By integrating microeconomic foundations, we derive the new model’s equations with a suitable choice of the system’s parameters. To assess the model’s behavior, we employ Lyapunov exponents spectra and bifurcation diagrams, revealing evidence of chaotic behavior. Our findings indicate that this new economic model exhibits greater complexity. In addition, our analysis reveals that this model captures the intricate dynamics of business cycles and the impact of foreign capital inflows on economic stability. Furthermore, we explore the utility of Bistability analysis and offset boosting control as valuable tools for comprehending the intricate dynamics of the system, enhancing its predictability and enabling effective control over chaotic behavior. Finally, we suggest utilizing predetermined control strategies to address synchronization issues within an innovative three-dimensional economic model incorporating foreign financing, ensuring convergence prior to a specified time threshold determined by the control mechanism.