Persistent fluctuations in a dual model with frictions: The role of delays
作者： Luca Guerrini , Mauro Sodini
DOI: 10.1016/J.AMC.2014.05.028
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摘要: This article studies the dynamics in a simple dual model where agents may shift from traditional sector to manufacturing one. We show that delay between exit and possibility be employed one is source of endogenous fluctuations. In particular, by choosing time as bifurcation parameter, it proved system lose stability supercritical Hopf occurs when passes through critical value.
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