Stability and Hopf bifurcations in a business cycle model with delay

摘要

In this paper, a business cycle model with discrete delay is considered. We first investigate the stability of the equilibrium and the existence of Hopf bifurcations, and then the direction and the stability criteria of the bifurcating periodic solutions are obtained by the normal form theory and the center manifold theorem. This research has an important theoretical value as well as practical meaning.