Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
4641115 | Journal of Computational and Applied Mathematics | 2009 | 6 Pages |
Abstract
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.
Related Topics
Physical Sciences and Engineering
Mathematics
Applied Mathematics
Authors
Lujun Zhou, Yaqiong Li,