The stability problem in the Kaldor–Kalecki business cycle model

Marek Szydłowski and Adam Krawiec

Chaos, Solitons & Fractals, 2005, vol. 25, issue 2, 299-305

Abstract: We consider the Kaldor–Kalecki model of the business cycle which is the modified Kaldor model with the Kalecki time delay in investment. The model is formulated in terms of a second-order nonlinear delay differential equation with a negative feedback. We investigate the problem of stability of cycles caused by retarded action. The method of a centre manifold is used to find the conditions for the Hopf bifurcation. The conditions for stability of limit cycles on the centre manifold is given.

Date: 2005
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:25:y:2005:i:2:p:299-305

DOI: 10.1016/j.chaos.2004.11.012

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