IDEAS home Printed from https://ideas.repec.org/a/eee/chsofr/v98y2017icp31-37.html
   My bibliography  Save this article

A generalized business cycle model with delays in gross product and capital stock

Author

Listed:
  • Hattaf, Khalid
  • Riad, Driss
  • Yousfi, Noura

Abstract

In this work, we propose a delayed business cycle model with general investment function. The time delays are introduced into gross product and capital stock, respectively. We first prove that the model is mathematically and economically well posed. In addition, the stability of the economic equilibrium and the existence of Hopf bifurcation are investigated. Our main results show that both time delays can cause the macro-economic system to fluctuate and the economic equilibrium to lose or gain its stability. Moreover, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are determined by means of the normal form method and center manifold theory. Furthermore, the models and results presented in many previous studies are improved and generalized.

Suggested Citation

  • Hattaf, Khalid & Riad, Driss & Yousfi, Noura, 2017. "A generalized business cycle model with delays in gross product and capital stock," Chaos, Solitons & Fractals, Elsevier, vol. 98(C), pages 31-37.
    • Handle: RePEc:eee:chsofr:v:98:y:2017:i:c:p:31-37
    DOI: 10.1016/j.chaos.2017.03.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960077917300541
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.chaos.2017.03.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Riad, Driss & Hattaf, Khalid & Yousfi, Noura, 2016. "Dynamics of a delayed business cycle model with general investment function," Chaos, Solitons & Fractals, Elsevier, vol. 85(C), pages 110-119.
    2. Xiaoqin P. Wu, 2009. "Simple-Zero and Double-Zero Singularities of a Kaldor-Kalecki Model of Business Cycles with Delay," Discrete Dynamics in Nature and Society, Hindawi, vol. 2009, pages 1-29, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aleksander Grzelak & Piotr Kułyk, 2020. "Is Michał Kalecki's theory of investment applicable today? The case study of agricultural holdings in the EU countries," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 66(7), pages 317-324.
    2. Hartwig, Johannes, 2022. "Semi-endogenous growth dynamics in a macroeconomic model with delays," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 538-551.
    3. Wenjie Hu & Hua Zhao & Tao Dong, 2018. "Dynamic Analysis for a Kaldor–Kalecki Model of Business Cycle with Time Delay and Diffusion Effect," Complexity, Hindawi, vol. 2018, pages 1-11, January.
    4. Yingkang Xie & Zhen Wang & Bo Meng, 2019. "Stability and Bifurcation of a Delayed Time-Fractional Order Business Cycle Model with a General Liquidity Preference Function and Investment Function," Mathematics, MDPI, vol. 7(9), pages 1-10, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wenjie Hu & Hua Zhao & Tao Dong, 2018. "Dynamic Analysis for a Kaldor–Kalecki Model of Business Cycle with Time Delay and Diffusion Effect," Complexity, Hindawi, vol. 2018, pages 1-11, January.
    2. Yingkang Xie & Zhen Wang & Bo Meng, 2019. "Stability and Bifurcation of a Delayed Time-Fractional Order Business Cycle Model with a General Liquidity Preference Function and Investment Function," Mathematics, MDPI, vol. 7(9), pages 1-10, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:chsofr:v:98:y:2017:i:c:p:31-37. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thayer, Thomas R. (email available below). General contact details of provider: https://www.journals.elsevier.com/chaos-solitons-and-fractals .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.