Stability Switches and Hopf Bifurcation in a Kaleckian Model of Business Cycle

Joint Authors

Ballestra, Luca Vincenzo
Pacelli, Graziella
Guerrini, Luca

Source

Abstract and Applied Analysis

Issue

Vol. 2013, Issue 2013 (31 Dec. 2013), pp.1-8, 8 p.

Publisher

Hindawi Publishing Corporation

Publication Date

2013-08-24

Country of Publication

Egypt

No. of Pages

8

Main Subjects

Mathematics

Abstract EN

This paper considers a Kaleckian type model of business cycle based on a nonlinear delay differential equation, whose associated characteristic equation is a transcendental equation with delay dependent coefficients.

Using the conventional analysis introduced by Beretta and Kuang (2002), we show that the unique equilibrium can be destabilized through a Hopf bifurcation and stability switches may occur.

Then some properties of Hopf bifurcation such as direction, stability, and period are determined by the normal form theory and the center manifold theorem.

American Psychological Association (APA)

Ballestra, Luca Vincenzo& Guerrini, Luca& Pacelli, Graziella. 2013. Stability Switches and Hopf Bifurcation in a Kaleckian Model of Business Cycle. Abstract and Applied Analysis،Vol. 2013, no. 2013, pp.1-8.
https://search.emarefa.net/detail/BIM-490726

Modern Language Association (MLA)

Ballestra, Luca Vincenzo…[et al.]. Stability Switches and Hopf Bifurcation in a Kaleckian Model of Business Cycle. Abstract and Applied Analysis No. 2013 (2013), pp.1-8.
https://search.emarefa.net/detail/BIM-490726

American Medical Association (AMA)

Ballestra, Luca Vincenzo& Guerrini, Luca& Pacelli, Graziella. Stability Switches and Hopf Bifurcation in a Kaleckian Model of Business Cycle. Abstract and Applied Analysis. 2013. Vol. 2013, no. 2013, pp.1-8.
https://search.emarefa.net/detail/BIM-490726

Data Type

Journal Articles

Language

English

Notes

Includes bibliographical references

Record ID

BIM-490726