Bifurcation Analysis of Zellner's Marshallian Macroeconomic Model

Sanjibani Banerjee, William Barnett, Evgeniya Duzhak and Ramu Gopalan ()
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Sanjibani Banerjee: Department of Economics, University of Kansas
Evgeniya Duzhak: Department of Economics, Baruch College

No 201102, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: The Marshallian Macroeconomic Model in Zellner and Israilevich (2005) provides a novel way to examine sectoral dynamics through the introduction of a dynamic entry/exit equation in addition to the usual demand and supply functions found in models of this class. In this paper we examine the possibility of cyclical behavior in the Marshallian Macroeconomic Model and investigate the existence of a Hopf bifurcation with respect to the parameter in the entry/exit equation.

Keywords: Marshallian Macroeconomic Model; Dynamic Entry/Exit; Hopf Bifurcation; Limit Cycles (search for similar items in EconPapers)
JEL-codes: C61 C62 E32 L16 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2011-04, Revised 2011-04
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Citations: View citations in EconPapers (5)

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Related works:
Journal Article: Bifurcation analysis of Zellner's Marshallian Macroeconomic Model (2011)
Working Paper: Bifurcation Analysis of Zellner's Marshallain Macroeconomic Model (2011)
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