Issue: 2009/Vol.19/No.1, Pages 103-119
CAN TORI ARISE IN A TWO–REGIONAL MODEL WITH FIXED EXCHANGE RATES
Peter Maličký
, Rudolf Zimka
Cite as: P. Maličký, R. Zimka. Can tori arise in a two–regional model with fixed exchange rates. Operations Research and Decisions 2009: 19(1), 103-119.
Abstract
A two-regional, five dimensional model describing the development of income, capital stock and money stock, which was introduced by T. Asada in [1], is analysed. Sufficient conditions are found for the existence of two pairs of purely imaginary eigenvalues and a fifth negative one for the linear approximation matrix of the model. A theorem on the existence of invariant tori is presented.
Keywords: dynamic model, equilibrium, linear approximatiomatrix, eigenvalues, normal form of differential equations on invariant surface, bifurcation equation, torus
Received: Accepted: