On the existence of business cycles in Asada’s two-regional model

Maličký, Peter; Zimka, Rudolf

doi:10.1016/j.nonrwa.2009.10.003

Cited by 5 publications

(5 citation statements)

References 6 publications

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“…transforms model (25) to a partial normal form on the invariant surface (see for example Bibikov [15], or Maličký and Zimka [32]) The resonant terms η 1 and η 2 in (26), which are determined by the formulae…”

Section: Bifurcation Equation Of Model (20) It Is Very Important To Investigate the Bifurcation Equation Of Modelmentioning

confidence: 99%

“…In addition a group of researchers, including the authors of the present paper, developed a series of Keynesian disequilibrium international macrodynamic models that are international extensions of Kaldor's nonlinear business cycle model [23]. See, for example, Asada [1], [2], Asada, Douskos, Kalantonis and Markellos [7], Asada, Douskos and Markellos [8], Asada, Inaba and Misawa [9], [10], Asada, Kalantonis, Markellos and Markellos [11], Asada, Misawa and Inaba [12], Maličký and Zimka [32], [33], Medveďová [34] and Nakao [37]. However, all of the above macrodynamic models are models of small open economies, or two-country models, with fixed or flexible exchange rates.…”

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confidence: 99%

“…For detailed examples of how Liu's criterion can be satisfied in a high-dimensional nonlinear dynamical system, see Maličký and Zimka[32],[33], or Asada et al[5],[6].…”

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confidence: 99%

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A three-country Kaldorian business cycle model with fixed exchange rates: A continuous time analysis

Zimka¹,

Demetrian²,

Asada³

et al. 2021

DCDS-B

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This paper analyses a three-country, fixed exchange rates Kaldorian nonlinear macroeconomic model of business cycles. The countries are connected through international trade, and international capital movement with imperfect capital mobility. Our model is a continuous time version of the discrete time three-country Kaldorian model of Inaba and Asada [22]. Their paper provided numerical studies of the dynamics of the three countries under fixed exchange rates. This paper provides analytical examinations of the local stability of the model´s equilibria, and of the existence of business cycles. The results are illustrated by numerical simulations.

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Section: Bifurcation Equation Of Model (20) It Is Very Important To Investigate the Bifurcation Equation Of Modelmentioning

confidence: 99%

mentioning

confidence: 99%

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A three-country Kaldorian business cycle model with fixed exchange rates: A continuous time analysis

Zimka¹,

Demetrian²,

Asada³

et al. 2021

DCDS-B

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“…He analysed the question of stability/instability of an equilibrium point of this model and outlined the possibility of the existence of cycles around this equilibrium. The question of the existence of cycles around the equilibrium was rigorously examined by Maličký andZimka (2010, 2012).…”

Section: Introductionmentioning

confidence: 99%

“…Further progress in research in particular on questions concerning business cycles was made utilizing new knowledge on limit cycles which can be found, for example in the books by Bibikov (1979), Wiggins (1990), and Kuznetsov (2004). In the domain of regional economics and international macroeconomics one can mention Maličký andZimka (2010, 2012), and in the research on Kaldorian business cycle theory, the studies by Zimka (2018, 2019).…”

Section: Introductionmentioning

confidence: 99%

Dynamics of a twocountry Kaldorian model of business cycles with fixed exchange rates: the case of Slovakia and the Czech Republic

Cisková¹,

Zimková²,

Zimka³

2020

Śląski Przegląd Statystyczny

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In this paper, Asada´s five-dimensional nonlinear model describing the dynamic interaction of two regions connected through interregional trade and interregional capital movement with fixed exchange rates is applied to the conditions of Slovakia and the Czech Republic. The functions of consumptions, investments, interest rates, taxes, and net exports involved in the model are constructed based on quarterly data of these two countries from the period 2010-2017. The equilibrium was found and the conditions on the parameters were established, guaranteeing that the Jacobian matrix of the model has a pair of purely imaginary eigenvalues with the remaining three with negative real parts. The bifurcation equation of the model giving the information on the qualitative properties of its solutions around the equilibrium, including the existence of business cycles and their stability/instability, was obtained. Numerical simulations are presented showing that they are fully in compliance with the achieved theoretical results.

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On Dynamics of a Three-Country Kaldorian Model of Business Cycles with Fixed Exchange Rates

Inaba

Asada

2020

Games and Dynamics in Economics

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On the existence of business cycles in Asada’s two-regional model

Cited by 5 publications

References 6 publications

A three-country Kaldorian business cycle model with fixed exchange rates: A continuous time analysis

A three-country Kaldorian business cycle model with fixed exchange rates: A continuous time analysis

Dynamics of a twocountry Kaldorian model of business cycles with fixed exchange rates: the case of Slovakia and the Czech Republic

On Dynamics of a Three-Country Kaldorian Model of Business Cycles with Fixed Exchange Rates

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