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Business cycles : The Hicksian floor-roof model revisited Sushko, Irina ; Puu, Tönu ; Gardini, Laura

By: Sushko, IrinaContributor(s): Puu, Tönu | Gardini, LauraPublication details: Umeå Umeå University. Centre for Regional Science Research, CERUM, 2002; Working paper CWP-51:2002, Description: 8.307 BSubject(s): Sweden | Region | Trade | OdgOnline resources: Publikation/Publication Abstract: The Hicksian multiplier-accelerator model with the original floor-roof limits to investments is studied for the case of two regions linked by interregional trade. The result is a piecewise linear continuous four dimensional map, which is reduced to three dimensions through the choice of an appropriate distributed consumption lag. The attractors, basins, and bifurcations of the map are studied under assumption of a certain symmetry between the regions. The Neimark-Hopf bifurcation for piecewise linear maps is described in detail which gives rise to the appearance of an attracting closed invariant curve homeomorphic to a circle. The structure of resonance regions in the parameter space are investigated.
Item type: Reports, conferences, monographs
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The Hicksian multiplier-accelerator model with the original floor-roof limits to investments is studied for the case of two regions linked by interregional trade. The result is a piecewise linear continuous four dimensional map, which is reduced to three dimensions through the choice of an appropriate distributed consumption lag. The attractors, basins, and bifurcations of the map are studied under assumption of a certain symmetry between the regions. The Neimark-Hopf bifurcation for piecewise linear maps is described in detail which gives rise to the appearance of an attracting closed invariant curve homeomorphic to a circle. The structure of resonance regions in the parameter space are investigated.

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