| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 7154898 | Communications in Nonlinear Science and Numerical Simulation | 2018 | 23 Pages |
Abstract
In this paper, a four-dimensional model of flexible prices with the central bank's stabilization policy, describing the development of the firms' private debt, the output, the expected rate of inflation and the rate of interest is analyzed. Questions concerning the existence of limit cycles around its normal equilibrium point are investigated. The bifurcation equation is found. The formulae for the calculation of its coefficients are gained. A numerical example is presented by means of numerical simulations.
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Authors
Toichiro Asada, Michal Demetrian, Rudolf Zimka,