Bifurcation Routes And Economic Stability
AbstractAn economic model of cycles focused on the foreign capital investment phenomenon will be briefly introduced. We consider a system of the first order non-linear differential equations where a feedbackfunction is controlled by a capital/output ratio parameter. The value of potential gross domestic product YP will be considered as a unit of the system. The influence of the parameter changes on macroeconomic stability is analysed. Convergence of this system either to stable state, limit cycle or chaotic state is demonstrated.
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Bibliographic InfoArticle provided by The Czech Econometric Society in its journal Bulletin of the Czech Econometric Society.
Volume (Year): 8 (2001)
Issue (Month): 14 ()
macroeconomic stability; foreign investment phenomenon; system of the non-linear differential equations; capital/output ratio parameter feedback; the Hopf bifurcation;
Other versions of this item:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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- Author Miloslav, 2001. "Bifurcation Routes in Financial Markets," Finance 0109001, EconWPA.
- Andrei Silviu DOSPINESCU, 2012. "The Behavior Of Prices As A Response To Structural Changes - The Role Of The Economic Transmission Mechanisms In Explaining The Observed Behavior," Romanian Journal of Economics, Institute of National Economy, vol. 35(2(44)), pages 201-217, December.
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