Analysis of the Stability and Hopf Bifurcation of Currency Supply Delay in an Opened Kaldorian Business Cycle ModelReport as inadecuate




Analysis of the Stability and Hopf Bifurcation of Currency Supply Delay in an Opened Kaldorian Business Cycle Model - Download this document for free, or read online. Document in PDF available to download.

Mathematical Problems in Engineering - Volume 2016 2016, Article ID 8056894, 12 pages -

Research ArticleDepartment of Management and Economics, Tianjin University, Tianjin 300072, China

Received 27 February 2016; Revised 15 June 2016; Accepted 14 July 2016

Academic Editor: Rosana Rodriguez-Lopez

Copyright © 2016 Liming Zhao and Zhipei Zhao. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

First of all, we establish a three-dimension open Kaldorian business cycle model under the condition of the fixed exchange rate. Secondly, with regard to the model, we discuss the existence of equilibrium point and the stability of the system near it with a time delay in currency supply as the bifurcating parameters of the system. Thirdly, we discuss the existence of Hopf bifurcation and investigate the stability of periodic solution generated by the Hopf bifurcation; then the direction of the Hopf bifurcation is given. Finally, a numerical simulation is given to confirm the theoretical results. This paper plays an important role in theoretical researching on the model of business cycle, and it is crucial for decision-maker to formulate the macroeconomic policies with the conclusions of this paper.





Author: Liming Zhao and Zhipei Zhao

Source: https://www.hindawi.com/



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