The paper investigates the impact of delayed tax revenues on the fiscal policy out-comes. Choosing the delay as a bifurcation parameter we study the direction and the stability of the bifurcating periodic solutions. We show when the system is stable with respect to the delay. Some numerical examples are given to confirm the theoretical results.
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
13270.
Length: Date of creation: 12 Nov 2005 Date of revision: Publication status: Published in Chaos, Solitons and Fractals 2.34(2007): pp. 519-530 Handle: RePEc:pra:mprapa:13270
Find related papers by JEL classification: C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
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