Continuous Hicksian trade cycle model with consumption and investment time delays

Akio Matsumoto and Ferenc Szidarovszky

Journal of Economic Behavior & Organization, 2010, vol. 75, issue 1, 95-114

Abstract: The main purpose of this paper is to consider effects caused by time delays on stability of continuous models when the dynamic system is piecewise differentiable. To this end, we construct a continuous version of the discrete Hicksian trade cycle model and introduce continuously distributed time delays. It is demonstrated that time delays stabilize an otherwise unstable system, and a piecewisely connected limit cycle is generated around an unstable stationary state.

Keywords: Hybrid; dynamical; system; Continuously; distributed; time; lag; Piecewisely; connected; limit; cycle; Nonlinear; multiplier-acclerator; model (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:75:y:2010:i:1:p:95-114

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