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Hopf bifurcation for the discrete - delay Kaldor - Kalecki model

Author

Listed:
  • Loretti I. Dobrescu

    (Università di Padova)

  • Dumitru Opris

    (West University of Timisoara)

Abstract

The present work will focus on a Kaldor - Kalecki non - linear business cycle model in income and capital, with discrete time and delay argument characteristics. What it will state, considering an investment function similar to the one proposed by Rodano and using the linear approximation analysis, are the local stability property and local bifurcations conditions, given the parameter space. Numerical examples will be given in the end, to support the theoretical results obtained.

Suggested Citation

  • Loretti I. Dobrescu & Dumitru Opris, 2008. "Hopf bifurcation for the discrete - delay Kaldor - Kalecki model," "Marco Fanno" Working Papers 0067, Dipartimento di Scienze Economiche "Marco Fanno".
    • Handle: RePEc:pad:wpaper:0067
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    References listed on IDEAS

    as
    1. Dobrescu, Loretti I. & Opris, Dumitru, 2009. "Neimark–Sacker bifurcation for the discrete-delay Kaldor model," Chaos, Solitons & Fractals, Elsevier, vol. 40(5), pages 2462-2468.
    2. Giorgio Rodano & Gian Italo Bischi & Enrico Saltari & Roberto Dieci, 2001. "Multiple attractors and global bifurcations in a Kaldor-type business cycle model," Journal of Evolutionary Economics, Springer, vol. 11(5), pages 527-554.
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    Keywords

    business cycle; Hopf bifurcation; discrete-delay time;
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