| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 4634814 | Applied Mathematics and Computation | 2008 | 8 Pages |
Abstract
In this paper we analyze a generalized dynamic IS-LM model with a government expenditure constraint and the capital accumulation equation that capital stock changes are caused by past investment decisions according to Kalecki’s idea of time delay in investment processes. Applying “stability switch criteria”, we prove that the time delay causes the equilibrium point may lose or gain local stability, so that the Hopf bifurcation occurs.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Lujun Zhou, Yaqiong Li,