Admissibility conditions of dynamic input-output economic model with multiple delays

Abstract

A new dynamic input-out economic model with multiple delays and with probably singular capital coefficient matrices is proposed. A delay-dependent admissibility condition and a delay-independent admissibility condition of the dynamic input-out economic model are addressed respectively. By simple transformation, the economic model is written as a discrete-time singular systems with multiple constant delays, then a delay-dependent and a delay-independent admissibility conditions are presented and expressed in terms of linear matrix inequalities (LMIs) by Lyapunov approach. Finally, numerical examples of the dynamic input-out economic model are illustrated, which show the effectiveness of the proposed methods.