Aggregate Substitution Effects Implying Global Stability

descriptionPublicationkeyboard_double_arrow_right Article 01 Nov 2001 English Publisher:Elsevier BVJournal:Journal of Economic Theory, volume 101, pages 317-329 (issn: 0022-0531,

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Authors: Donald C. Keenan;

doi: 10.1006/jeth.2000.2757

Aggregate Substitution Effects Implying Global Stability

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Abstract

A system of autonomous differential equations is considered with the goal of using in economics. The author discusses the stability arguments for tatonnement. The basic aim here is to show that the standard conditions used to obtain global stability depend only on aggregate substitution effects. In conclusion, the author briefly discusses the problem, but the presentation in general is not easy to understand.

Related Organizations

University of Georgia
Georgia
University of Georgia Press
United States

Keywords

tatonnement, aggregate substitution, General equilibrium theory, Global stability of solutions to ordinary differential equations, global stability

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