@article{oai:chuo-u.repo.nii.ac.jp:00006089, author = {MATSUMOTO, Akio and SZIDAROVSKY, Ferenc}, journal = {経済研究所 Discussion Paper, IERCU Discussion Paper}, month = {Jan}, note = {application/pdf, A special dynamic system is analyzed which describes Goodwin.s business cycle model (Goodwin, 1951). In realistic economies there are time delays in both investment and consumption. The two time delays have a signi.cant e.ect on the asymptotic behavior of the system. Without delay the system is locally asymptotically stable with reasonable parameter selection, however in the presence of delays stability might be lost. This paper gives a complete stability analysis of the delayed system by determining the stability switch curves and characterizing the directions of the stability switches based on the monotonic properties of the curves.}, title = {A Special Dynamic System with Two Time Delays}, volume = {216}, year = {2014} }