A new mathematical model of economic cycles and crises has been proposed

   The paper proposes a new mathematical model of economic cycles and crises, which generalizes the well-known model of Dubovsky S.V. The novelty of the proposed model lies in taking into account the effect of heredity (memory), as well as the introduction of harmonic functions responsible for the arrival of investments in fixed assets and new management technologies in innovation. The mathematical description is given using the Gerasimov-Caputo fractional derivatives, which are studied within the framework of the theory of fractional calculus. The mathematical model was investigated using the numerical method of Adams- Bashforth-Moulton (ABM), phase trajectories were constructed. It is shown that the proposed mathematical model can have both regular and chaotic regimes.

   Makarov D., Parovik R. Numerical modeling of Kondratyev’s long waves taking into account heredity // AIP Conference Proceedings 2365, 070005 (2021); https://doi.org/10.1063/5.0056847