Can tori arise in a two-regional model with fixed exchange rates?

A two-regional, five dimensional model describing the development of income, capital stock and money stock, which was introduced by T. Asada in [1], is analysed. Sufficient conditions are found for the existence of two pairs of purely imaginary eigenvalues and a fifth negative one for the linear approximation matrix of the model. A theorem on the existence of invariant tori is presented.

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Year of publication:	2009
Authors:	Malicky, Peter ; Zimka, Rudolf
Published in:	Operations Research and Decisions. - Wydział Informatyki i Zarządzania. - Vol. 1.2009, p. 103-119
Publisher:	Wydział Informatyki i Zarządzania
Subject:	dynamic model \| equilibrium \| linear approximatiomatrix \| eigenvalues \| normal form of differential equations on invariant surface \| bifurcation equation \| torus

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008777209