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Business-cycle models and the dangers of linearizing
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Kozlovski, O., Pintus, P., Strien, Sebastian van and de Vilder, R. (2006) Business-cycle models and the dangers of linearizing. JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS, 128 (2). pp. 333-353. doi:10.1007/s10957-006-9019-6 ISSN 0022-3239.
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Official URL: http://dx.doi.org/10.1007/s10957-006-9019-6
Abstract
This paper studies the consequences of linearizing nonlinear business-cycle models near their interior steady state. It is shown that dynamic objects, created for example in a Bogdanov-Takens bifurcation, may be lost in the linearization procedure. Sufficient conditions are provided ensuring the absence of various dynamic features in the nonlinear version of the model.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics |
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Journal or Publication Title: | JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS | ||||
Publisher: | SPRINGER/PLENUM PUBLISHERS | ||||
ISSN: | 0022-3239 | ||||
Official Date: | February 2006 | ||||
Dates: |
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Volume: | 128 | ||||
Number: | 2 | ||||
Number of Pages: | 21 | ||||
Page Range: | pp. 333-353 | ||||
DOI: | 10.1007/s10957-006-9019-6 | ||||
Publication Status: | Published |
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