Abstract
In this paper, the global asymptotic stability of both the closed economy system and the open economy system is investigated under impulse control, and the obtained stability criteria improve the existing results in the previous literature, generalizing the stabilization from the closed economy system to the open economy system, and stabilizing the unstable equilibrium point with positive interest rate. Particularly, stability of the equilibrium point with positive interest rate is suitable for the open economic market of China, for the interest rates during different periods in China’s financial market are always some of positive percentages. Finally, numerical examples illustrate the effectiveness of the proposed methods.
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