Simple-Zero and Double-Zero Singularities of a Kaldor-Kalecki Model of Business Cycles with Delay
We study the Kaldor-Kalecki model of business cycles with delay in both the gross product and the capital stock. Simple-zero and double-zero singularities are investigated when bifurcation parameters change near certain critical values. By performing center manifold reduction, the normal forms on th...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2009-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2009/923809 |
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| Summary: | We study the Kaldor-Kalecki model of business cycles
with delay in both the gross product and the capital stock. Simple-zero
and double-zero singularities are investigated when bifurcation parameters
change near certain critical values. By performing center manifold
reduction, the normal forms on the center manifold are derived to obtain
the bifurcation diagrams of the model such as Hopf, homoclinic and
double limit cycle bifurcations. Some examples are given to confirm the
theoretical results. |
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| ISSN: | 1026-0226 1607-887X |