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

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Neamtu, Mihaela and Opris, Dumitru and Chilarescu, Constantin (2005): Hopf bifurcation in a dynamic IS-LM model with time delay. Published in: Chaos, Solitons and Fractals , Vol. 34, No. 2 (2007): pp. 519-530.
Classification:	C51 - Model Construction and Estimation ; C63 - Computational Techniques ; C02 - Mathematical Methods
Source:	BASE

Persistent link: https://www.econbiz.de/10015215564