Complex dynamics of a Kaldor model of business cycle with discrete-time

Z. Eskandari, Z. Avazzadeh and R. Khoshsiar Ghaziani

Chaos, Solitons & Fractals, 2022, vol. 157, issue C

Abstract: This paper studies the dynamical behavior of a Kaldor model of business cycle with discrete-time analytically and numerically. The conditions and the critical coefficients for the flip (period-doubling), Neimark-Sacker, and strong resonances are computed analytically. By using the critical coefficients, the bifurcation scenarios are determined for each of the deleted bifurcation points. Bifurcation curves of fixed points and cycles with periods up to sixteen by changing one and two parameters along with all codim-1 and codim-2 bifurcations on the corresponding curves are computed using the numerical continuation method. Numerical analysis confirms our analytical results and reveals more complex dynamical behaviors.

Keywords: Kaldor model; Bifurcation; Critical coefficient; Numerical continuation; Neimark-Sacker; Period doubling; Strong resonances (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:157:y:2022:i:c:s0960077922000741

DOI: 10.1016/j.chaos.2022.111863

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