Abstract
Utilizing the Hopf-bifurcalion theorem for nonlinear differential equations and Olech's theorem on global stability, the paper shows how a nonlinear macro limit cycle can change its character when financial perturbation terms are introduced into the model. As demonstrated financial perturbations affect the vector field in certain regions of the trajectories and a variety of different outcomes can be generated. Financial instability as put forward in Minsky's writings can result from the proposed dynamics under not too restrictive conditions.
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