Analytical and numerical investigation of Hopf bifurcation in an economic model

This study examines an economic model and explores the Hopf bifurcation by individually varying the indebtedness factor and the output-capital ratio parameter. Both analytical and numerical methods are used to determine the conditions and coefficients for the normal form of the Hopf bifurcation. The critical coefficient for this bifurcation is identified using the central manifold theory. Additionally, the phase portrait of the model near the critical values of the indebtedness factor and the output-capital ratio parameter is illustrated using the Matcont software package.

کلیدواژه ها:

Economic Model ، Hopf bifurcation ، Critical coefficient ، Matcont package