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- handle: 10670/1.ebnrf8
- hal: hal-00759204
- doi: 10.1016/j.jde.2012.06.012
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jde.2012.06.012
Mots-clés
Functional differential equations Advanced and retarded arguments Interest rates Inflation rates Initial value problems Indeterminacy Impulsive equations AMS 34K06, 34K08 E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E31 - Price Level • Inflation • Deflation E - Macroeconomics and Monetary Economics/E.E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit/E.E5.E52 - Monetary Policy C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C65 - Miscellaneous Mathematical ToolsSujets proches
Problems, Initial valueCiter ce document
d'Albis Hippolyte et al., « Discontinuous initial value problems for functional differential-algebraic equations of mixed type », HAL-SHS : économie et finance, ID : 10.1016/j.jde.2012.06.012
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Résumé
We study the well-posedness of initial value problems for nonlinear functional differential-algebraic equations of mixed type. We are interested in solutions to such problems that admit a single jump discontinuity at time zero. We focus specially on the question whether unstable equilibria can be stabilized by appropriately choosing the size of the jump discontinuity. We illustrate our techniques by analytically studying an economic model for the interplay between inflation and interest rates. In particular, we investigate under which circumstances the central bank can prevent runaway inflation by appropriately hiking the interest rate.