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The Speed Of Adjustment and Robust Stability of Macroeconomic Systems


  • Karel Sladký
  • Miloslav Vošvrda


In this contribution we illustrate some applications oť the theory oť linear systems with interval uncertainties to the stability and speed oť adjustment analysis oť some macroeconomic models. In particular, we ťocus our attention on the Keynes and neoclassical systems, as well as on the Walras-Keynes-Phillips model and show how the interval uncertainties arising in the respective adjustment equations can infiuence the adjustment mechanism and stability margins oť the macroeconomic equilibrium.

Suggested Citation

  • Karel Sladký & Miloslav Vošvrda, 1996. "The Speed Of Adjustment and Robust Stability of Macroeconomic Systems," Bulletin of the Czech Econometric Society, The Czech Econometric Society, vol. 3(5).
  • Handle: RePEc:czx:journl:v:3:y:1996:i:5:id:37

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