The equilibrium price stability loss in the price formation model of Walras type

The equilibrium price stability loss in the price formation model of Walras type with delays is investigated. The equilibrium price loses stability when industrial capacity exceeds some critical value. It is shown that in the case of nonessential commodity market the stabi ity loss is the result of Hopf s bifurcation and an periodic orbit emerges or dies after stability loss Computational analysis showed that a stable limit circle emerges. The results of this investigation let us use this model for building a class of-macroeconomic models which are describing periodic behaviour rising.