On dynamics in a medium-term Keynesian model

Abstract

<p style='text-indent:20px;'>This paper rigorously examines the (in)stability of limit cycles generated by Hopf bifurcations in a medium-term Keynesian model. The bifurcation equation of the model is derived and the conditions for stable and unstable limit cycles are presented. Numerical simulations are performed to illustrate the analytical results.</p>