On dynamics in a medium-term Keynesian model

Hiroki Murakami; Rudolf Zimka

doi:10.3934/dcdsb.2021145

Article Contents

2021, Volume 26, Issue 11: 5925-5940. Doi: 10.3934/dcdsb.2021145 open access

This issue Previous Article Stability switching and its directions in cournot duopoly game with three delays Next Article Speculative behavior and chaotic asset price dynamics: On the emergence of a bandcount accretion bifurcation structure

On dynamics in a medium-term Keynesian model

Hiroki Murakami^1, , and
Rudolf Zimka^2,

1.
Faculty of Economics, Chuo University, 742-1, Higashi-Nakano, Hachioji, Tokyo 192-0393, Japan
2.
Faculty of Economics, Matej Bel University, Tajovského 10,975 90 Banská Bystrica, Slovakia

^* Corresponding author: Hiroki Murakami
^* Corresponding author: Hiroki Murakami

Received: November 2020

Revised: April 2021

Early access: May 2021

Published: November 2021

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Abstract

This paper rigorously examines the (in)stability of limit cycles generated by Hopf bifurcations in a medium-term Keynesian model. The bifurcation equation of the model is derived and the conditions for stable and unstable limit cycles are presented. Numerical simulations are performed to illustrate the analytical results.

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Mathematics Subject Classification: Primary: 37G15, 91B64.

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Figure 1. Solution path with (72)

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Figure 2. Solution path with (45)

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Figure 3. Solution paths projected on $ K $-$ P $ plane

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