<abstract xmlns="http://www.w3.org/1999/xhtml"><p> 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.</p></abstract>

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.

On the bifurcation of a torus in a small open economy model

Department of Mathematics and Descriptive Geometry Technical University in Zvolen T. G. Masaryka 2117/24 SK–960-53 Zvolen SLOVAKIA

Department of Quantitative Methods and Information Technology Faculty of Economics Matej Bel University Tajovsk´eho 10 SK–975-90 Bansk´a Bystrica SLOVAKIA

Tatra Mountains Mathematical Publications

{"article-title":"On the bifurcation of a torus in a small open economy model"}

A four-dimensional macroeconomic model of a small open economy under fixed exchange rates is investigated. The model describes the development of national...

On the bifurcation of a torus in a small open economy model

Publié en ligne: 13 nov. 2012

Pages: 125 - 134

DOI: https://doi.org/10.2478/v10127-011-0012-6

Mots clés
equilibrium, macroeconomic model, stability, torus.

This content is open access.

On the bifurcation of a torus in a small open economy model

Publié en ligne: 13 nov. 2012

Pages: 125 - 134

DOI: https://doi.org/10.2478/v10127-011-0012-6

Mots clésequilibrium, macroeconomic model, stability, torus.

This content is open access.

Mots clés
equilibrium, macroeconomic model, stability, torus.