Stability and determinacy conditions for mixed-type functional differential equations

Journal article: This paper analyzes the solution of linear mixed-type functional differential equations with either predetermined or non-predetermined variables. Conditions characterizing the existence and uniqueness of a solution are given and related to the local stability and determinacy properties of the steady state. In particular, it is shown that the relationship between the uniqueness of the solution and the stability of the steady-state is more subtle than the one that holds for ordinary differential equations, and gives rise to new dynamic configurations.

Author(s)

Hippolyte d’Albis, Emmanuelle Augeraud-Véron, Hermen Jan Hupkes

Journal
  • Journal of Mathematical Economics
Date of publication
  • 2014
Keywords JEL
C62
Keywords
  • Functional differential equations
  • Local dynamics
  • Existence
  • Determinacy
Pages
  • 119-129
Version
  • 1
Volume
  • 53