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The new result on delayed finance system

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Abstract

In this paper, a finance system with time delay is considered. By linearizing the system at the unique equilibrium and analyzing the associated characteristic equation, the asymptotic stability of the unique equilibrium is investigated and Hopf bifurcations are demonstrated. Furthermore, the direction of Hopf bifurcation and the stability of the bifurcating periodic solutions are determined by the normal form theory and the center manifold theorem for functional differential equations. Finally, some numerical simulations are carried out for illustrating the theoretical results.

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Acknowledgments

The author expresses gratitude to the anonymous referee for his/her helpful suggestions and the partial support of Science Foundation (2011FZ086) and the Foundation of Education Commission (2013Z014) of Yunnan Province.

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Authors and Affiliations

  1. Department of Mathematics, Yunnan Normal University, Kunming, 650092, People’s Republic of China

    Xiaoling Chen, Haihong Liu & Chenglin Xu

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  1. Xiaoling Chen
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  2. Haihong Liu
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  3. Chenglin Xu
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Correspondence to Haihong Liu.

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Chen, X., Liu, H. & Xu, C. The new result on delayed finance system. Nonlinear Dyn 78, 1989–1998 (2014). https://doi.org/10.1007/s11071-014-1578-8

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  • DOI: https://doi.org/10.1007/s11071-014-1578-8

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