| Budget Amount *help |
¥5,070,000 (Direct Cost: ¥3,900,000、Indirect Cost: ¥1,170,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2012: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
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| Outline of Final Research Achievements |
Although the instability effect caused by the delay has been known, its explicit considerations in economic models are not fully done due to the mathematical difficulties in dealing with the delays. This project introduces single and multiple delays into the well-known economic models (imperfect competition models, neoclassical economic growth model and IS-LM models) and examines the delay effects analytically as well as numerically. We have three main results: (1) it is confirmed that even single delay can destabilize otherwise stable economic models; (2) multiple delays has the double edge effect implying that stability and instability are sequently repeated as a length of one delay become larger and the other is kept fixed; (3) the steady state is destabilized and then bifurcates to various dynamics ranging from simple cyclic dynamics to complex dynamics involving chaotic behavior.
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