Coefficient criterion for four-dimensional Hopf bifurcations: a complete mathematical characterization and applications to economic dynamics
type: Item
instance of: scholarly article
title: Coefficient criterion for four-dimensional Hopf bifurcations: a complete mathematical characterization and applications to economic dynamics
zbMATH Open document ID: 1056.91051
DOI: 10.1016/S0960-0779(02)00674-4
author: Toichiro Asada
author: Hiroyuki Yoshida
published in: Chaos, Solitons and Fractals
publication date: 2004-07-01T00:00:00Z
review text: The goal of the paper is to present a complete mathematical characterization of a coefficient criterion for four-dimensional Hopf bifurcations in a system with continuous time and to apply the authors' criterion to some typical models of economic dynamics. They consider the two-region business cycle model by \textit{T. Puu} [Nonlinear economic dynamics. 4th ed., Springer-Verlag, Berlin (1997; Zbl 0931.91024)] and the dynamic optimization model by \textit{E. J. Dockner} and \textit{G. Feichtinger} [J. Economics 53, No. 1, 31--50 (1991; Zbl 0733.90022)]. These applications revealed that the authors' coefficient criterion is practical and quite useful in detecting the cyclic behaviour analytically.
reviewed by: Messoud Efendiev
Mathematics Subject Classification ID: 91B66
Mathematics Subject Classification ID: 91B62
Mathematics Subject Classification ID: 37N40
Mathematics Subject Classification ID: 34C23
Mathematics Subject Classification ID: 37G15
zbMATH DE Number: 2077309
zbMATH Keywords: cyclic behaviour
zbMATH Keywords: economic model
MaRDI profile type: Publication
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description: scientific article; zbMATH DE number 2077309