Nonlinear oscillations in business cycle model with time lags☆

摘要: Abstract In this paper we analyse the dynamics of Kaldor–Kalecki business cycle model. This model is based on classical Kaldor in which capital stock changes are caused by past investment decisions. lag connected with time delay needed for new to be installed. The reduced form damped oscillator negative feedback parameter and next it analysed terms bifurcation theory. We find conditions existence persistence oscillatory behaviour represented limit some central manifold phase space, i.e., single Hopf bifurcation. demonstrate that cycles may exhibited nonzero measure set space. co-dimension two interaction bifurcations as well diagrams also given. Finally, obtain numerical values describing an amplitude a period oscillation different system. It proved while function not nonlinear quasi-periodic solution (a 1:2 resonant double point) can appear. source such rather consequence than nonlinearity function. Our results confirm asymmetric (two periodic) time-to-build.