Discrete Dynamics in Nature and Society

Discrete Dynamics in Nature and Society / 1997 / Article

Open Access

Volume 1 |Article ID 371547 | 15 pages | https://doi.org/10.1155/S1026022697000216

Endogenous oscillations in a discrete dynamic model with inventory

Received15 Jun 1996

Abstract

Introducing the producer's intertemporal optimizing behavior, we extend the Eckalbar Disequilibrium Macro-Model (1985) and reconsider the dynamic features of the modified model. We concern ourselves with the existence of inventory cycles when the expectations are formed adaptively. The endogenous inventory cycle is detected using the Hopf bifurcation theorem in which a bifurcation parameter is an adaptive coefficient. It is also demonstrated that the generated cycle is subcritical.

Copyright © 1997 Hindawi Publishing Corporation. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.


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