PERIODIC OSCILLATION FOR A CLASS OF DELAYED ECONOMIC MODELS

A five coupled Kaldor-Kalecki economic model with one delay appeared in the literature, in which the periodic solution of the model was verified by numerical analysis. The periodic solution is an important characteristic of the mutual interactions of economic systems. Also, different investment functions may have different delays. The present paper extends the five coupled Kaldor-Kalecki economic model with one delay to a multiple delay system and discusses the existence of periodic oscillation of this multiple delay model. By linearizing the investment functions at the positive equilibrium and analyzing the instability of the positive equilibrium together with the boundedness of the solutions, some sufficient conditions to guarantee the existence of periodic oscillatory solutions for this model are established. Computer simulations are given to illustrate the validity of the theoretical results. The present result is new.