Open AccessTriple-zero singularity of a Kaldor–Kalecki model of business cycles with delay
Author(s) -
Xiaoqin P. Wu
Publication year - 2013
Publication title -
nonlinear analysis modelling and control
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.734
H-Index - 32
eISSN - 2335-8963
pISSN - 1392-5113
DOI - 10.15388/na.18.3.14015
Subject(s) - singularity , zero (linguistics) , homoclinic orbit , center manifold , hopf bifurcation , mathematics , economics , bifurcation , mathematical physics , mathematical analysis , physics , philosophy , nonlinear system , linguistics , quantum mechanics
In this manuscript, we study triple zero singularity of a Kaldor-Kalecki model of business cycles with delay in both the gross product and the capital stock. By using the frameworks of Campbell-Yuan (1) and Faria-Magalhaes (2, 3), the normal form on the center manifold is derived for this singularity and hence the corresponding bifurcation diagrams such as Hopf, BT, zero-Hopf, and homoclinic bifurcations are obtained. An example is given to verify some theoretical results.
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