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Neimark-Sacker bifurcation for the discrete-delay Kaldor model

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  • Dobrescu, Loretti Isabella
  • Opris, Dumitru

Abstract

We consider a discrete-delay time, Kaldor non-linear business cycle model in income and capital. Given an investment function, resembling the one discussed by Rodano, we use the linear approximation analysis to state the local stability property and local bifurcations, in the parameter space. Finally, we will give some numerical examples to justify the theoretical results.

Suggested Citation

  • Dobrescu, Loretti Isabella & Opris, Dumitru, 2007. "Neimark-Sacker bifurcation for the discrete-delay Kaldor model," MPRA Paper 5415, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:5415
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    File URL: https://mpra.ub.uni-muenchen.de/5415/1/MPRA_paper_5415.pdf
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    References listed on IDEAS

    as
    1. Gian-Italo Bischi & Vincenzo Valori, 2000. "Nonlinear effects in a discrete-time dynamic model of a stock market," Working Papers - Mathematical Economics 2000-01, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    2. Giorgio Rodano & Gian Italo Bischi & Enrico Saltari & Roberto Dieci, 2001. "Multiple attractors and global bifurcations in a Kaldor-type business cycle model," Journal of Evolutionary Economics, Springer, vol. 11(5), pages 527-554.
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    Cited by:

    1. Lixiao Hao & Vasilios I. Manousiouthakis, 2021. "Sustainability over sets and the business cycle," SN Business & Economics, Springer, vol. 1(6), pages 1-26, June.
    2. Januário, Cristina & Grácio, Clara & Duarte, Jorge, 2009. "Measuring complexity in a business cycle model of the Kaldor type," Chaos, Solitons & Fractals, Elsevier, vol. 42(5), pages 2890-2903.
    3. Wenjie Hu & Hua Zhao & Tao Dong, 2018. "Dynamic Analysis for a Kaldor–Kalecki Model of Business Cycle with Time Delay and Diffusion Effect," Complexity, Hindawi, vol. 2018, pages 1-11, January.
    4. Irina Bashkirtseva & Davide Radi & Lev Ryashko & Tatyana Ryazanova, 2018. "On the Stochastic Sensitivity and Noise-Induced Transitions of a Kaldor-Type Business Cycle Model," Computational Economics, Springer;Society for Computational Economics, vol. 51(3), pages 699-718, March.
    5. Loretti I. Dobrescu & Dumitru Opris, 2008. "Hopf bifurcation and chaos analysis of a discrete-delay dynamic model for a stock market," "Marco Fanno" Working Papers 0082, Dipartimento di Scienze Economiche "Marco Fanno".
    6. Dobrescu, Loretti I. & Opris, Dumitru, 2009. "Neimark–Sacker bifurcation for the discrete-delay Kaldor–Kalecki model," Chaos, Solitons & Fractals, Elsevier, vol. 41(5), pages 2405-2413.
    7. Loretti I. Dobrescu & Dumitru Opris, 2008. "Hopf bifurcation for the discrete - delay Kaldor - Kalecki model," "Marco Fanno" Working Papers 0067, Dipartimento di Scienze Economiche "Marco Fanno".

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    More about this item

    Keywords

    business cycle; Neimark-Sacker bifurcation; discrete-delay time;
    All these keywords.

    JEL classification:

    • C69 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Other
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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