Bistability of equilibria and the 2-tori dynamics in an endogenous growth model undergoing the cusp-Hopf singularity

被引：3

作者：

Bella, Giovanni ^{[1
]}

Mattana, Paolo ^{[1
]}

机构：

[1] Univ Cagliari, Dept Econ & Business, Cagliari, Italy

来源：

NONLINEAR ANALYSIS-REAL WORLD APPLICATIONS | 2018年 / 39卷

关键词：

Multiple BGPs; Cusp-Hopf bifurcation; Chaotic dynamics; INCREASING RETURNS; GLOBAL INDETERMINACY; BIFURCATION; EXTERNALITIES; CYCLES;

D O I：

10.1016/j.nonrwa.2017.06.013

中图分类号：

O29 [应用数学];

学科分类号：

070104 ;

摘要：

This paper studies the properties of bistability of equilibria, giving rise to periodic oscillations and 2-tori chaotic dynamics in the full three-dimensional structure of the generalized version of the Chamley (1993) endogenous growth model. This complex dynamic phenomenon reflects a particular hopf bifurcation degeneracy that originates in the neighborhood of a so-called Gavrilov-Guckenheimer singularity, with asymptotical stability properties that lead to persistent oscillations under small perturbations, until a chaos frontier is reached. As a consequence, we study all the necessary conditions, and the exact parametric configuration, that allow to locate the economy on the optimal path that avoids this undesired long run indeterminate solution. (C) 2017 Elsevier Ltd. All rights reserved.

引用

页码：185 / 201

页数：17