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....

In this paper we investigate the economic dynamics of a seven-equation model of the business cycle. The main distinctive features of the model are related to: (a) the role played by the public sector in redeploying income between workers and capitalists, since it is assumed that the bargaining...

The formation of complex patterns in physical or biological systems is often caused by the interaction of many low (Kolmogorov) complexity systems, leading to emergent collective effects. In this contribution, we demonstrate how complex processing of acoustic signals by the peripheral auditory...

The optimal intertemporal use of forests is a traditional and extensively investigated topic with recent emphasis on sustainable uses. The political discussion about the clearing of tropical forests adds a topical, policy dimension to this investigation. This study shows that cyclical policies...

The idea that for small disturbances the full employment equilibrium is stable while for large disturbances it is unstable was coined by Leijonhufvud in the notion of a "corridor". We discuss the existence of a corridor in the standard Keynesian-Monetarist textbook macro-model. It turns out that...

A nonlinear disequilibrium macrodynamic model of ?uctuations in the labour and product markets, mediated by variations in factor shares, is developed and the exis- tence of a periodic orbit is proved using the Hopf bifurcation theore

The paper put forward a macrodynamic model of the real-financial interaction. Regarding the financial sector it focuses on the stock market dynamics, for real sector it details goods market disequilibrium and two Phillips curves for prices as well as wages. The central link between the two...

This paper analyzes a high-dimensional macrodynamic model of the real-financial interaction. Regarding the financial sector it focuses on the stock market dynamics, whilst for the real sector it details goods market disequilibrium and two Phillips curves for prices as well as wages. The central...

Grandmont (1985) found that the parameter space of the most classical dynamic models are stratified into an infinite number of subsets supporting an infinite number of different kinds of dynamics, from monotonic stability at one extreme to chaos at the other extreme, and with all forms of...