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: Department of Mathematics - University of Missouri - Columbia, https://www.math.missouri.edu/
Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne
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)
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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)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:12043
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