Hopf bifurcation in a dynamic IS–LM model with time delay

Mihaela Neamţu, Dumitru Opriş and Constantin Chilaˇrescu

Chaos, Solitons & Fractals, 2007, vol. 34, issue 2, 519-530

Abstract: The paper investigates the impact of delayed tax revenues on the fiscal policy out-comes. Choosing the delay as a bifurcation parameter we study the direction and the stability of the bifurcating periodic solutions. We show when the system is stable with respect to the delay. Some numerical examples are given to confirm the theoretical results.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:34:y:2007:i:2:p:519-530

DOI: 10.1016/j.chaos.2006.03.052

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