734 research outputs found
Hopf bifurcation in a dynamic IS-LM model with time delay
In this paper we investigate 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. With respect
to the delay we show when the system is stable. Some numerical examples are
finally given for justifying the theoretical results.Comment: 13 pages, 12 figure
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