Economics Dynamics Problems 175

Economics Dynamics Problems 175 - Systems of rst-order...

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Systems of Frst-order differential equations 159 Figure 4.14. v s 1 + v s 2 = 0 and hence v s = ± 1 1 ² Figure 4.14 illustrates the two eigenvectors associated with the two eigenvalues. Although this illustration had two distinct roots, it is quite clear that for any system of two dimensions, there will be two roots that correspond to one of the following possibilities: (1) real and distinct (2) real and equal (3) complex conjugate. It is possible to relate these three possibilities to conditions imposed on the trace
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