Delayed feedback on the dynamical model of a financial system |
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| Authors: | Woo-Sik Son Young-Jai Park |
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| Institution: | 1. ISEN Brest, Département Vision, L@bISEN, 20 rue Cuirassé Bretagne, CS 42807, 29228 Brest Cedex 2, France;2. ACTRIS Brest, 24 Rue Victor Grignard, Guipavas – BP 143, 29803 Brest Cedex 9, France;3. FFN (Fédération Française de Natation), 14 Rue Scandicci, 93508 Pantin Cedex, France;1. School of Civil Engineering, Hunan University of Science and Technology, Xiangtan, Hunan 411201, PR China;2. College of Civil Engineering, Hunan University, Changsha, Hunan 410082, PR China;3. College of Mechanical and Vehicle Engineering, Hunan University, Changsha, Hunan 410082, PR China;1. Research Center for Complex Systems and Network Sciences, and Department of Mathematics, Southeast University, Nanjing 210096, China;2. Department of Electrical Engineering, Wuhu Institute of Technology, Wuhu 241000, China;3. Department of Mathematics, Faculty of Science, King Abdulaziz University, Jeddah 21589, Saudi Arabia;1. College of Physics and Electronics, Hunan Institute of Science and Technology, Yueyang 414000, China;2. The Training Center of Hunan Electric Power Corporation, Changsha 410131, China |
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| Abstract: | We investigate the effect of delayed feedbacks on the financial model, which describes the time variation of the interest rate, the investment demand, and the price index, for establishing the fiscal policy. By local stability analysis, we theoretically prove the occurrences of Hopf bifurcation. Through numerical bifurcation analysis, we obtain the supercritical and subcritical Hopf bifurcation curves which support the theoretical predictions. Moreover, the fold limit cycle and Neimark–Sacker bifurcation curves are detected. We also confirm that the double Hopf and generalized Hopf codimension-2 bifurcation points exist. |
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