In two decoupled two-variable subsystems of a generalized Goodwin model, adding a delay in the Phillips curve induces a Hopf bifurcation at a computable critical delay, producing periodic oscillations that are unstable for the numerical example.
A dynamical model of business- cycle asymmetries: Extending Goodwin
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Hopf Bifurcation in a Generalized Goodwin Model with Delay
In two decoupled two-variable subsystems of a generalized Goodwin model, adding a delay in the Phillips curve induces a Hopf bifurcation at a computable critical delay, producing periodic oscillations that are unstable for the numerical example.