Codimension-2 bifurcations of the Kaldor model of business cycle

Xiaoqin P. Wu

Chaos, Solitons & Fractals, 2011, vol. 44, issue 1, 28-42

Abstract: In this paper, complete analysis is presented to study codimension-2 bifurcations for the nonlinear Kaldor model of business cycle. Sufficient conditions are given for the model to demonstrate Bautin and Bogdanov–Takens (BT) bifurcations. By computing the first and second Lyapunov coefficients and performing nonlinear transformation, the normal forms are derived to obtain the bifurcation diagrams such as Hopf, homoclinic and double limit cycle bifurcations. Some examples are given to confirm the theoretical results.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:44:y:2011:i:1:p:28-42

DOI: 10.1016/j.chaos.2010.11.002

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