Stability conditions for three-dimensional maps and their associated bifurcation types

ABSTRACT

We present analytical tools that may be useful in studying the behaviour of dynamic economic models formulated in discrete time. In particular, we provide a simplified set of conditions for the stability of fixed points of three-dimensional maps, and the bifurcation types associated with them.

KEYWORDS:

• Dynamical systems
• stability conditions
• bifurcation analysis

JEL CLASSIFICATION:

• C61
• C62
• C65

Disclosure statement

No potential conflict of interest was reported by the authors.