Discontinuous initial value problems for functional differential-algebraic equations of mixed type

Hippolyte d'Albis, Emmanuelle Augeraud-Véron and Hermen Jan Hupkes ()
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Hermen Jan Hupkes: Mizzou - University of Missouri [Columbia] - University of Missouri System

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Abstract: We study the well-posedness of initial value problems for nonlinear functional differential-algebraic equations of mixed type. We are interested in solutions to such problems that admit a single jump discontinuity at time zero. We focus specially on the question whether unstable equilibria can be stabilized by appropriately choosing the size of the jump discontinuity. We illustrate our techniques by analytically studying an economic model for the interplay between inflation and interest rates. In particular, we investigate under which circumstances the central bank can prevent runaway inflation by appropriately hiking the interest rate.

Keywords: Functional differential equations; Advanced and retarded arguments; Interest rates; Inflation rates; Initial value problems; Indeterminacy; Impulsive equations (search for similar items in EconPapers)
Date: 2012-10
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Citations: View citations in EconPapers (15)

Published in Journal of Differential Equations, 2012, 253 (7), pp.1959-2024. ⟨10.1016/j.jde.2012.06.012⟩

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Related works:
Working Paper: Discontinuous initial value problems for functional differential-algebraic equations of mixed type (2012)
Working Paper: Discontinuous Initial Value Problems for Funtional Differential-Algebraic Equations of Mixed Type (2012)
Working Paper: Discontinuous Initial Value Problems for Funtional Differential-Algebraic Equations of Mixed Type (2012)
Working Paper: Discontinuous initial value problems for functional differential-algebraic equations of mixed type (2012)
Working Paper: Discontinuous Initial Value Problems for Functional Differential-Algebraic Equations of Mixed Type (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00759204

DOI: 10.1016/j.jde.2012.06.012

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