On stability in generalized Schinasi’s macroeconomic model under fixed exchange rates

Katarína Makovínyiová; Rudolf Zimka

doi:10.2478/v10127-009-0031-8

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On stability in generalized Schinasi’s macroeconomic model under fixed exchange rates

Tatra Mountains Mathematical Publications

Volume 43 (2009): Issue 1 (August 2009)

By: Katarína Makovínyiová and Rudolf Zimka

Open Access

|Nov 2012

Abstract

A nonlinear dynamic macroeconomic model of a small open economy is constructed. The model is based on the IS-LM structure and generalizes the Schinasi’s model of a closed economy. Sufficient conditions for the existence of the equilibrium of the model are found and the question of its stability is analyzed.

References

[1] SCHINASI, G. J.: Fluctuations in a dynamic, intermediate-run IS-LM model: applicationsof the Poincar´e-Bendixon theorem, J. Econom. Theory 28 (1982), 369-375.10.1016/0022-0531(82)90068-0
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[2] KALDOR, N.: A model of the trade cycle, Economic J. 50 (1940), 69-86.
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[3] LIU, W. M.: Criterion of Hopf bifurcations without using eigenvalues, J. Math. Anal. Appl. 182 (1994), 250-256.10.1006/jmaa.1994.1079
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Articles in this issue

DOI: https://doi.org/10.2478/v10127-009-0031-8 | Journal eISSN: 1338-9750 | Journal ISSN: 12103195

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Language: English

Page range: 115 - 122

Published on: Nov 12, 2012

Published by: Slovak Academy of Sciences, Mathematical Institute

In partnership with: Paradigm Publishing Services

Publication frequency: 1 issue per year

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© 2012 Katarína Makovínyiová, Rudolf Zimka, published by Slovak Academy of Sciences, Mathematical Institute
This work is licensed under the Creative Commons License.

Volume 43 (2009): Issue 1 (August 2009)