On the existence of tori in Asada’s two-regional model

A two-regional five-dimensional model describing the development of income, capital stock and money stock, which was introduced by Asada in (2004) 2] is analysed. Sufficient conditions for the existence of two pairs of purely imaginary eigenvalues and the last one being negative in the linear approximation matrix of the model are found. Formulae for the calculation of the coefficients in the bifurcation equation of the model are derived. The theorem on the existence of invariant tori is presented. A numerical example illustrating the gained results is given.