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On the dynamics of an inflation IS‐LM model |
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| Authors: | Juan LG Guirao Raquel García‐Rubio Juan A Vera |
| Institution: | 1. Departamento de Matemática Aplicada y Estadística, Universidad Politécnica de Cartagena, Hospital de Marina, 30203‐Cartagena, Región de Murcia, Spain;2. Departamento de Administración y Economía de la Empresa, Universidad de Salamanca, 37008‐Salamanca, Castilla y León, Spain |
| Abstract: | The aim of the present paper is to analyze the dynamic of a generalized IS‐LM macroeconomic model for the inflation via the use of the averaging theory of dynamical systems. For this 3‐dimensional system we present a rigorous proof on the existence of a limit cycle in the case of considering a nonlinear action of cubic type on the real net product. Moreover we study the stability and the Hopf bifurcations of the system equilibria for different values of the parameters. |
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