Response of nonlinear random business cycle model with time delay state feedback

The steady state response and bifurcation of nonlinear random business cycle model to random narrow-band excitation with time delay state feedback are studied in this paper. The method of multiple scales is used to determine the business cycle model of modulation of amplitude and phase. The effects of delay, detuning, bandwidth and magnitude of random excitation on dynamics of the business cycle system are investigated. The results show that the complex dynamics such as bifurcation, jump domain and so on are induced by time delay and the phenomena that multiple solution or bifurcation is induced by noise.