Hopf bifurcation in a dynamic IS-LM model with time delay

Mihaela Neamtu, Dumitru Opris and Constantin Chilarescu

MPRA Paper from University Library of Munich, Germany

Abstract: The paper investigates the impact of delayed tax revenues on the fiscal policy out-comes. Choosing the delay as a bifurcation parameter we study the direction and the stability of the bifurcating periodic solutions. We show when the system is stable with respect to the delay. Some numerical examples are given to confirm the theoretical results.

Keywords: delay differential equation; stability; Hopf bifurcation; IS-LM model (search for similar items in EconPapers)
JEL-codes: C02 C51 C63 (search for similar items in EconPapers)
Date: 2005-11-12
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Citations: View citations in EconPapers (2)

Published in Chaos, Solitons and Fractals 2.34(2007): pp. 519-530

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