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 Title
Electronic Journal of Qualitative Theory of Differential Equations
Journal ISSN
1417-3875
Volume
27