Affordable Access

Bifurcation Analysis of Zellner's Marshallain Macroeconomic Model

Publication Date
  • L16 - Industrial Organization And Macroeconomics: Industrial Structure And Structural Change
  • Industrial Price Indices
  • E32 - Business Fluctuations
  • Cycles
  • C61 - Optimization Techniques
  • Programming Models
  • Dynamic Analysis
  • C62 - Existence And Stability Conditions Of Equilibrium
  • Economics


The Marshallian Macroeconomic Model in Zellner and Israilevich (2005) provides a novel way to examine sectoral dynamics through the introduction of a dynamic entry/exit equation in addition to the usual demand and supply functions found in models of this class. In this paper we examine the possibility of cyclical behavior in the Marshallian Macroeconomic Model and investigate the existence of a Hopf bifurcation with respect to the parameter in the entry/exit equation.

There are no comments yet on this publication. Be the first to share your thoughts.