Tatra Mountains Mathematical Publications
Differential and Difference Equations and Applications 2010
About this article
Published Online: Nov 13, 2012
Page range: 125 - 134
DOI: https://doi.org/10.2478/v10127-011-0012-6
Keywords
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A four-dimensional macroeconomic model of a small open economy under fixed exchange rates is investigated. The model describes the development of national income, capital stock, interest rate and money stock. Sufficient conditions for the existence of an invariant torus are given. A numerical example illustrating the gained results is presented.