Bifurcations in an economic model with fractional degree
Bifurcations in an economic model with fractional degree
<p style='text-indent:20px;'>A planar ODE system which models the industrialization of a small open economy is considered. Because fractional powers are involved, its interior equilibria are hardly found by solving a transcendental equation and the routine qualitative analysis is not applicable. We qualitatively discuss the transcendental equation, eliminating the transcendental term …