We consider a discrete-delay time, Kaldor non-linear business cycle model in income and capital. Given an investment function, resembling the one discussed by Rodano, we use the linear approximation analysis to state the local stability property and local bifurcations, in the parameter space....

We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with external increasing returns to scale, where...

We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with external increasing returns to scale, where...

The main objectives of this research are to analyze the trends of expectations condition within Malaysian economic system and investigate the existence of Hopf bifurcation in the economic dynamical system's policy in order to examine the existence of periodic solutions. The study uses two types...

We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with external increasing returns to scale, where...

The existing literature on the stabilizing properties of interest-rate feedback rules has stressed the perils of linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due to self-fulfilling expectations. In response to this...