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Bifurcation Routes And Economic Stability

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  • Miloslav Vošvrda

Abstract

An 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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File URL: http://ces.utia.cas.cz/bulletin/index.php/bulletin/article/view/102
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Bibliographic Info

Article provided by The Czech Econometric Society in its journal Bulletin of the Czech Econometric Society.

Volume (Year): 8 (2001)
Issue (Month): 14 ()
Pages:

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Handle: RePEc:czx:journl:v:8:y:2001:i:14:id:102

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Web page: http://ces.utia.cas.cz
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Related research

Keywords: macroeconomic stability; foreign investment phenomenon; system of the non-linear differential equations; capital/output ratio parameter feedback; the Hopf bifurcation;

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Cited by:
  1. Author Miloslav, 2001. "Bifurcation Routes in Financial Markets," Finance 0109001, EconWPA.
  2. 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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