Keen’s model describes the dynamics between wage share, employment rate and
debt ratio. In literature, the model was extended to represent the effects of
inflation and also the speculative money flow. Based on the inflationary model,
we take into account a time delay in the inflation term which stands for the
period before the effects of inflation are seen. We observe that, the delayed
system may experience a Hopf bifurcation and exhibit cyclic behavior around an
equilibrium point, although the non-delayed model is stable under the same
conditions.

Dieser Artikel untersucht Zeitreisen und deren Auswirkungen.

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