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On the dynamics of an inflation IS‐LM model

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  • Guirao, Juan L.G.
  • García‐Rubio, Raquel
  • Vera, Juan A.

Abstract

The aim of the present paper is to analyze the dynamic of a generalized IS‐LM macroeconomic model for the inflation via the use of the averaging theory of dynamical systems. For this 3‐dimensional system we present a rigorous proof on the existence of a limit cycle in the case of considering a nonlinear action of cubic type on the real net product. Moreover we study the stability and the Hopf bifurcations of the system equilibria for different values of the parameters.

Suggested Citation

  • Guirao, Juan L.G. & García‐Rubio, Raquel & Vera, Juan A., 2012. "On the dynamics of an inflation IS‐LM model," Economic Modelling, Elsevier, vol. 29(6), pages 2090-2094.
    • Handle: RePEc:eee:ecmode:v:29:y:2012:i:6:p:2090-2094
    DOI: 10.1016/j.econmod.2012.07.007
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    References listed on IDEAS

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    1. Torre, V, 1977. "Existence of Limit Cycles and Control in Complete Keynesian System by Theory of Bifurcations," Econometrica, Econometric Society, vol. 45(6), pages 1457-1466, September.
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    Cited by:

    1. Naimzada, Ahmad & Pireddu, Marina, 2014. "Dynamic behavior of product and stock markets with a varying degree of interaction," Economic Modelling, Elsevier, vol. 41(C), pages 191-197.

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