The new result on delayed finance system |
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Authors: | Xiaoling Chen Haihong Liu Chenglin Xu |
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Institution: | 1. Department of Mathematics, Yunnan Normal University, Kunming, 650092, People’s Republic of China
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Abstract: | In this paper, a finance system with time delay is considered. By linearizing the system at the unique equilibrium and analyzing the associated characteristic equation, the asymptotic stability of the unique equilibrium is investigated and Hopf bifurcations are demonstrated. Furthermore, the direction of Hopf bifurcation and the stability of the bifurcating periodic solutions are determined by the normal form theory and the center manifold theorem for functional differential equations. Finally, some numerical simulations are carried out for illustrating the theoretical results. |
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