Modeling of dynamic input-output economic systems with multiple delays

Abstract

This paper establishes three models of dynamic input-out economic systems with multiple delays. Uncommonly, the systems are with probably singular capital coefficient matrices which are greatly common in practical economic models. By equivalent transformation, the economic models are written as three discrete-time singular systems with multiple delays. Furthermore, three admissibility conditions are presented and expressed in terms of linear matrix inequalities (LMIs) by Lyapunov approach respectively.