Analysis of Coherence Resonance in Kaldor-Kalecki Business Cycle Model

It is well known that additive noise brings qualitative transformations of system behavior in a non-linear system as noise-induced phenomena. Recently, Bashkirtseva et al. have shown that this noise-induced phenomenon arises in the Kaldor-Kalecki business cycle model with multiple attractors. However, the economic validity of this condition has not been studied. In this study, we focus on a threshold characteristic of the Kaldor-Kalecki business cycle model under the bias of income and show that coherence resonance can be produced by the effect of this threshold characteristic as one of the noise-induced phenomena.