Discontinuous initial value problems for functional differential-algebraic equations of mixed type

JOURNAL OF DIFFERENTIAL EQUATIONS

卷:253

Article

d'Albis, H.²  Augeraud-Veron, E.³  Hupkes, H. J.¹ 

[1] Univ Missouri Columbia, Dept Math, Columbia, MO 65203 USA

[2] Univ Paris 01, Paris Sch Econ, F-75013 Paris, France

[3] Univ La Rochelle, Lab Math Images & Applicat, F-17042 La Rochelle, France

关键词: Functional differential equations;    Advanced and retarded arguments;    Interest rates;    Inflation rates;    Initial value problems;    Indeterminacy;    Impulsive equations;   

DOI  :  10.1016/j.jde.2012.06.012

来源: Elsevier

【 摘 要 】

We study the well-posedness of initial value problems for nonlinear functional differential-algebraic equations of mixed type. We are interested in solutions to such problems that admit a single jump discontinuity at time zero. We focus specially on the question whether unstable equilibria can be stabilized by appropriately choosing the size of the jump discontinuity. We illustrate our techniques by analytically studying an economic model for the interplay between inflation and interest rates. In particular, we investigate under which circumstances the central bank can prevent runaway inflation by appropriately hiking the interest rate. (c) 2012 Elsevier Inc. All rights reserved.

【 授权许可】

Free