Hopf bifurcation in an open monetary economic system: Taylor versus inflation targeting rules

Reza Moosavi Mohseni and Adem Kilicman

Chaos, Solitons & Fractals, 2014, vol. 61, issue C, 8-12

Abstract: The main aim of the present work is to detect the Hopf bifurcation in policy relevant economic dynamical system. The study employs two deferent forms of monetary policy rules namely: Taylor rule and inflation targeting rule. The results show that there exists Hopf bifurcation between policy relevant variables in both types of rules in our open economic system.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chsofr:v:61:y:2014:i:c:p:8-12

DOI: 10.1016/j.chaos.2014.01.003

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