Discontinuous Initial Value Problems for Functional Differential-Algebraic Equations of Mixed Type

Hippolyte d'Albis, Emmanuelle Augeraud-Véron () and Hermen Jan Hupkes ()
Additional contact information
Emmanuelle Augeraud-Véron: MIA - Université de la Rochelle
Hermen Jan Hupkes: Department of Mathematics - University of Missouri - Columbia, https://www.math.missouri.edu/
Authors registered in the RePEc Author Service: Emmanuelle Augeraud-Véron

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

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)
Pages: 57 pages
Date: 2012-06
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (21)

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http://mse.univ-paris1.fr/pub/mse/CES2012/12043.pdf (application/pdf)

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 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 functional differential-algebraic equations of mixed type (2012)
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