Global stability conditions on the plane

The paper considers price adjustment on the plane and derives global stability conditions for such dynamics. First, we examine the well-known Scarf Example, to obtain and analyze a global stability condition for this case. Next, for a general class of excess demand functions, a set of conditions is identified which guarantee not only convergence to some equilibrium but also robustness of these properties.

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Year of publication:	2003
Authors:	Mukherji, Anjan
Publisher:	Osaka : Osaka University, Institute of Social and Economic Research (ISER)
Subject:	Gleichgewichtsstabilität \| Marktmechanismus \| Theorie \| global stability conditions \| dynamics on the plane \| excess demand functions \| Dulac's Criterion

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Series:	ISER Discussion Paper ; 589
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	369014057 [GVK] hdl:10419/92745 [Handle]
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; D50 - General Equilibrium and Disequilibrium. General
Source:	EconStor

Persistent link: https://www.econbiz.de/10010332364