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Die Methode der Gleichgewichtsbewegung als Approximationsverfahren

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  • Schlicht, Ekkehart

Abstract

(Approximation by Moving Equilibrium). The analysis of multivariate dynamical models can sometimes be considerably simplified by the assumption that one or several variables move infinitely fast to their equilibrium values. The method is known as the 'moving equilibrium method'. Various dynamical theories that build on equilibrated markets presuppose the validity of this method. The method is discussed and a theorem -- the moving equilibrium theorem -- is provided that establishes the validity of the approximation in the linear case.

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File URL: http://epub.ub.uni-muenchen.de/3149/1/schlicht_gleichgewichtsbewegung.pdf
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Bibliographic Info

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This chapter was published in: Schlicht, Ekkehart , , pages , .

This item is provided by University of Munich, Department of Economics in its series Chapters in Economics with number 3149.

Handle: RePEc:lmu:muench:3149

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Related research

Keywords: Moving equlibrium; temporary equilibrium; dynamical systems; successive approximation;

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Cited by:
  1. Ruprecht Witzel, 1984. "Overshooting des Wechselkurses, Substituierbarkeit der Finanzaktiva und J-Kurve," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 120(3), pages 436-453, September.
  2. Schlicht, Ekkehart, 1997. "The moving equilibrium theorem again," Economic Modelling, Elsevier, vol. 14(2), pages 271-278, April.
  3. Schlicht, Ekkehart, 2003. "Estimating Time-Varying Coefficients With the VC Program," Discussion Papers in Economics 34, University of Munich, Department of Economics.
  4. Doris Neuberger, 1991. "Risk taking by banks and captial accumulation: A portfolio approach," Journal of Economics, Springer, vol. 54(3), pages 283-303, October.

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