Here, we discuss a three-dimensional continuous-time Lotka-Volterra dynamical system, which describes the role of government in interactions with banks and small enterprises. In Italy, during the COVID-19 emergency, the main objective of government economic intervention was to maintain the proper operation of the bank-enterprise system. We also review the effectiveness of measures introduced in response to the COVID-19 pandemic lockdowns in order to avoid a further credit crunch. By applying bifurcation theory to the system, we were able to produce evidence of the existence of Hopf and zero-Hopf bifurcating periodic solutions from a saddle-focus in a special region of the parameter space, and we performed a numerical analysis.
Stability and Bifurcations in Banks and Small Enterprises—A Three-Dimensional Continuous-Time Dynamical System / Desogus, M.; Venturi, B.. - In: JOURNAL OF RISK AND FINANCIAL MANAGEMENT. - ISSN 1911-8074. - 16:3(2023). [10.3390/jrfm16030171]