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Global Stability Conditions on the Plane

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  • Anjan Mukherji

Abstract

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.

Suggested Citation

  • Anjan Mukherji, 2003. "Global Stability Conditions on the Plane," ISER Discussion Paper 0589, Institute of Social and Economic Research, Osaka University.
    • Handle: RePEc:dpr:wpaper:0589
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    File URL: https://www.iser.osaka-u.ac.jp/library/dp/2003/DP0589.pdf
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    Cited by:

    1. Anjan Mukherji, 2012. "The second fundamental theorem of positive economics," International Journal of Economic Theory, The International Society for Economic Theory, vol. 8(2), pages 125-138, June.
    2. Mukherji, Anjan, 2010. "Stability of the Market Economy in the Presence of Diverse Economic Agents," Working Papers 8, JICA Research Institute.

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