Bifurcation Routes And Economic Stability
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.
Volume (Year): 8 (2001)
Issue (Month): 14 ()
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