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Stability Switches and Hopf Bifurcation in a Kaleckian Model of Business Cycle
Joint Authors
Ballestra, Luca Vincenzo
Pacelli, Graziella
Guerrini, Luca
Source
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
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