Department

Mathematics

Document Type

Article

Publication Date

2009

Abstract

In this paper, we investigate a Kaldor-Kalecki model of business cycle with delay in both the gross product and the capital stock. Stability analysis for the equilibrium point is carried out. We show that Hopf bifurcation occurs and periodic solutions emerge as the delay crosses some critical values. By deriving the normal forms for the system, the direction of the Hopf bifurcation and the stability of the bifurcating periodic solutions are established. Examples are presented to confirm our results.

Journal

Electronic Journal of Qualitative Theory of Differential Equations

Journal ISSN

1417-3875

Volume

27

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