On Variable-Order Fractional Discrete Macroeconomic Model: Stability, Chaos, and Complexity

Macroeconomic mathematical models are practical instruments structured to carry out theoretical analyses of macroeconomic developments. In this manuscript, the Caputo-like fractional operator of variable order is used to introduce and investigate the mechanism of the discrete macroeconomic model. The nature of the dynamics was established, and the emergence of chaos using a distinct variable fractional order, especially the stability of the trivial solution, is examined. The findings reveal that the variable-order discrete macroeconomic model displays chaotic dynamics employing bifurcation, the Largest Lyapunov exponent (LEmax), the phase portraits, and the 0–1 test. Furthermore, a complexity analysis is performed to demonstrate the existence of chaos and quantify its complexity using C0 complexity and spectral entropy (SE). These studies show that the suggested variable-order fractional discrete macroeconomic model has more complex features than integer and constant fractional orders. Finally, MATLAB R2024b simulations are run to exemplify the outcomes of this study.