Complex dynamics in A financial model

A discrete two-dimensional financial model is investigated. The conditions of existence for fiip bifurcation and Naimark-Sacker bifurcation are derived using center manifold theorem and bifurcation theory. Chaotic behavior in the sense of Marotto's definition of chaos is proven. And numerical simulations not only show the consistence with the theoretical analysis but also exhibit the complex dynamical behaviors, including quasiperiod orbits, interior crisis and intermittency. The computation of Lyapunov exponents conforms the dynamical behaviors.