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Hopf bifurcation in a dynamic IS-LM model with time delay. (English) Zbl 1138.34040

The paper is concerned with some mathematical models of taxation policy outcomes based on delayed tax revenue. The stability of the system with respect to changes in the delay is investigated. Following an introduction, in which the model equations are described, the authors go on to describe a qualitative analysis of the equations. There follows a detailed analysis of stability and Hopf bifurcations, together with numerical examples and a number of figures giving example waveplots. The authors conclude with some observations about the complexity of the calculations.

MSC:

34K60 Qualitative investigation and simulation of models involving functional-differential equations
34K18 Bifurcation theory of functional-differential equations
37N25 Dynamical systems in biology
91B62 Economic growth models
34K20 Stability theory of functional-differential equations
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References:

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