Hopf bifurcation in a dynamic IS-LM model with time delay

The paper investigates the impact of delayed tax revenues on the fiscal policy out-comes. Choosing the delay as a bifurcation parameter we study the direction and the stability of the bifurcating periodic solutions. We show when the system is stable with respect to the delay. Some numerical examples are given to confirm the theoretical results.

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Year of publication:	2005-11-12
Authors:	Neamtu, Mihaela ; Opris, Dumitru ; Chilarescu, Constantin
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	delay differential equation \| stability \| Hopf bifurcation \| IS-LM model

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Notes:	Published in Chaos, Solitons and Fractals 2.34(2007): pp. 519-530
Classification:	C51 - Model Construction and Estimation ; C63 - Computational Techniques ; C02 - Mathematical Methods
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005836580