The contribution of this paper is twofold. First, it reformulates the model of endogenous credit cycles by Matsuyama (2013, Sections 2-4). It is shown that the same dynamical system that generates the equilibrium trajectory can be obtained under a much simpler set of assumptions. Such a...

The contribution of this paper is twofold. First, it reformulates the model of endogenous credit cycles by Matsuyama (2013, Sections 2-4). It is shown that the same dynamical system that generates the equilibrium trajectory can be obtained under a much simpler set of assumptions. Such a...

Relaxation oscillations or stick-slip dynamics exhibited by a model, originally proposed for a form of plastic instability namely, Portevin Le-Chatelier effect, has been analysed. The model exhibits atypical slow manifold which has a bent structure. It is this geometry that gives rise to a new...