A dynamic IS-LM business cycle model with two time delays in capital accumulation equation

JOURNAL OF COMPUTATIONAL AND APPLIED MATHEMATICS

卷:228

Article

Zhou, Lujun¹  Li, Yaqiong¹ 

[1] Hunan Univ, Coll Math & Econometr, Changsha 410082, Hunan, Peoples R China

关键词: Time delays;    Asymptotically stable;    Stability switch;    Hopf bifurcation;    IS-LM model;   

DOI  :  10.1016/j.cam.2008.09.004

来源: Elsevier

【 摘 要 】

In this paper, we analyze a augmented IS-LM business cycle model with the capital accumulation equation that two time delays are considered in investment processes according to Kalecki's idea. Applying stability switch criteria and Hopf bifurcation theory, we prove that time delays cause the equilibrium to lose or gain stability and Hopf bifurcation occurs. (c) 2008 Elsevier B.V. All rights reserved.

【 授权许可】

Free