This paper is concerned with the proof of the existence of Hopf bifurcations in a mathematical model recently proposed in [T. Chen, X. Li, and J. He, Abstract and Applied Analysis 2014, 456764 (2014)] for understanding the complex stochastic dynamics phenomena of credit risk contagion in the financial market. Specifically the model consists in an ordinary differential equation with time-delay. Moreover, by using the normal form theory and center manifold argument, the stability, direction, and period of bifurcating periodic solutions are gained.
Bianca, Carlo and Guerrini, Luca
"Hopf Bifurcations in a Delayed Microscopic Model of Credit Risk Contagion,"
Applied Mathematics & Information Sciences: Vol. 09:
3, Article 44.
Available at: https://digitalcommons.aaru.edu.jo/amis/vol09/iss3/44