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Erschienen in:
2000 | OriginalPaper | Buchkapitel
A Note on Investment, Credit and Endogenous Cycles
verfasst von : Andreas J. Novak
Erschienen in: Optimization, Dynamics, and Economic Analysis
Verlag: Physica-Verlag HD
Enthalten in: Professional Book Archive
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In a recent paper Faria and Andrade (1998) present a model of two different representative agents, borrowers and lenders, and investigate conditions such that the borrower’s problem results in a cyclical relationship between capital and loans by applying Hopf bifurcation theory. Nevertheless, the question about the existence of stable cycles is still unresolved. In this note a numerical example leading to stable cycles is presented.