We consider a credit cycle model introduced by Matsuyama, which is defined by a one-dimensional piecewise smooth map with upward, downward and flat branches. We offer a detailed analysis of this model for the case where asymp- totic dynamics does not involve the flat branch, under the additional...

Boom and bust cycles are widely documented in the literature on industry dynamics. Rigidities and delays in capacity adjustment in combination with bounded rational behavior have been identified as central driving forces. We construct a model that features only these two elements and we show...

An adaptive oligopoly model, where the demand function is isoelastic and the competitors operate under constant marginal costs, is considered. The Cournot equilibrium point then loses stability through a subcritical Neimark bifurcation. The present paper focuses some global bifurcations, which...