Indeterminacy and cycles in two-sector discrete-time model (Q1865207)
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scientific article; zbMATH DE number 1887565
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Indeterminacy and cycles in two-sector discrete-time model |
scientific article; zbMATH DE number 1887565 |
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Indeterminacy and cycles in two-sector discrete-time model (English)
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25 March 2003
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Using a special discrete-time two-sector Cobb-Douglas economy the authors show some interesting (possibly surprising) results concerning events in a small neighbourhood of steady states. To this aim they use Lagrange-methods, discuss characteristic equations, use results from bifurcation theory and get some sufficient conditions, such that the discussed effects occur. They compare carefully their results with the existing literature. Examples complete the paper.
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indeterminacy
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Cycles
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Hopf-bifurkation
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equilibrium paths
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steady state
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