Bifurcation analysis of Zellner's Marshallian Macroeconomic Model

Sanjibani Banerjee, William Barnett, Evgeniya A. Duzhak and Ramu Gopalan ()

Journal of Economic Dynamics and Control, 2011, vol. 35, issue 9, 1577-1585

Abstract: The Marshallian Macroeconomic Model in Zellner and Israilevich (2005) provides a novel way to examine sectoral dynamics through the introduction of a dynamic entry/exit equation in addition to the usual demand and supply functions found in models of this class. In this paper we examine the possibility of cyclical behavior in the Marshallian Macroeconomic Model and investigate the existence of a Hopf bifurcation with respect to the parameter in the entry/exit equation.

Keywords: Marshallian; Macroeconomic; Model; Dynamic; entry/exit; Hopf; bifurcation; Limit; cycles (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (10)

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Related works:
Working Paper: Bifurcation Analysis of Zellner's Marshallian Macroeconomic Model (2011)
Working Paper: Bifurcation Analysis of Zellner's Marshallain Macroeconomic Model (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:35:y:2011:i:9:p:1577-1585

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