Continuous Time IS-LM Model Stability and Simulation

Abstract

Abstract:

Continuous time IS-LM model is built under standard assumptions of modern economics, asymptotic stability, oscillation conditions and the analytical solution of IS-LM model system are revealed based on continuous time IS-LM model, and the topological characteristics of its equilibrium are analyzed. The theoretical analysis results are verified and the polymorphism of economy system dynamic evolution is intuitively shown by dynamic simulation. The research shows that continuous time IS-LM dynamic system has three types of equilibrium:stable focus, unstable focus and center; system equilibrium has three types:stable focus equilibrium, unstable focus equilibrium and center equilibrium under the condition of periodic oscillation; continuous time IS-LM dynamic system has four types of equilibrium:stable nodes, unstable node, saddle point and star node; system equilibrium has four types equilibrium:stable equilibrium, unstable equilibrium, saddle point equilibrium under the condition of nonperiodic oscillation.

Key words: IS-LM model, stability, periodic oscillation, node, focus

Wang Xiangbing. Continuous Time IS-LM Model Stability and Simulation[J]. , 2018, 30(1): 67-77,153.

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