Endogenous oscillations in a discrete dynamic model with inventory
Introducing the producer's intertemporal optimizing behavior, we extend the Eckalbar Disequilibrium Macro-Model (1985) and reconsider the dynamic features of the modified model. We concern ourselves with the existence of inventory cycles when the expectations are formed adaptively. The endogeno...
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| Format: | Article |
| Language: | English |
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Wiley
1997-01-01
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| Series: | Discrete Dynamics in Nature and Society |
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| Online Access: | http://dx.doi.org/10.1155/S1026022697000216 |
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| _version_ | 1832552170935812096 |
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| author | Akio Matsumoto |
| author_facet | Akio Matsumoto |
| author_sort | Akio Matsumoto |
| collection | DOAJ |
| description | Introducing the producer's intertemporal optimizing behavior, we extend the Eckalbar Disequilibrium Macro-Model (1985) and reconsider the dynamic features of the modified model. We concern ourselves with the existence of inventory cycles when the expectations are formed adaptively. The endogenous inventory cycle is detected using the Hopf bifurcation theorem in which a bifurcation parameter is an adaptive coefficient. It is also demonstrated that the generated cycle is subcritical. |
| format | Article |
| id | doaj-art-941dc7a7bb1a4a63954598b00f1772e0 |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 1997-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-941dc7a7bb1a4a63954598b00f1772e02025-02-03T05:59:23ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X1997-01-011320321710.1155/S1026022697000216Endogenous oscillations in a discrete dynamic model with inventoryAkio Matsumoto0Niigata University, Department of Economics, 8050, 2-No-cho, Ikarashi, Niigata 950-21, JapanIntroducing the producer's intertemporal optimizing behavior, we extend the Eckalbar Disequilibrium Macro-Model (1985) and reconsider the dynamic features of the modified model. We concern ourselves with the existence of inventory cycles when the expectations are formed adaptively. The endogenous inventory cycle is detected using the Hopf bifurcation theorem in which a bifurcation parameter is an adaptive coefficient. It is also demonstrated that the generated cycle is subcritical.http://dx.doi.org/10.1155/S1026022697000216Hopf bifurcationLimit cycleStability index. |
| spellingShingle | Akio Matsumoto Endogenous oscillations in a discrete dynamic model with inventory Discrete Dynamics in Nature and Society Hopf bifurcation Limit cycle Stability index. |
| title | Endogenous oscillations in a discrete dynamic model with inventory |
| title_full | Endogenous oscillations in a discrete dynamic model with inventory |
| title_fullStr | Endogenous oscillations in a discrete dynamic model with inventory |
| title_full_unstemmed | Endogenous oscillations in a discrete dynamic model with inventory |
| title_short | Endogenous oscillations in a discrete dynamic model with inventory |
| title_sort | endogenous oscillations in a discrete dynamic model with inventory |
| topic | Hopf bifurcation Limit cycle Stability index. |
| url | http://dx.doi.org/10.1155/S1026022697000216 |
| work_keys_str_mv | AT akiomatsumoto endogenousoscillationsinadiscretedynamicmodelwithinventory |