Center manifold analysis for a delayed model with classical saving. (English) Zbl 1267.34126
Summary: By choosing the time delay as a bifurcation parameter, the Solow-Swan model with classical saving and time delay in production undergoes a Hopf bifurcation. In this paper, the direction and stability of the bifurcating periodic solution are determined by using the normal form theory and the center manifold theorem.
MSC:
| 34K18 | Bifurcation theory of functional-differential equations |
| 91B62 | Economic growth models |
| 34K60 | Qualitative investigation and simulation of models involving functional-differential equations |
| 34K19 | Invariant manifolds of functional-differential equations |
| 34K20 | Stability theory of functional-differential equations |
| 34K13 | Periodic solutions to functional-differential equations |
