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Some Results for the Comparative Statics of Steady-States of Higher-Order Discrete Dynamic Systems

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  • Raaj Sah

Abstract

Higher-order discrete dynamic systems arise naturally in many economic models in which the problem at hand requires an explicit treatment of dynamics involving lags of more than one period. In studying such models, one type of analysis that economists are often interested in is the assessment of the signs and the magnitudes of the effects of a change in the parameters of the dynamic system on the stable steady-states of the system. This paper presents some results for such comparative statics analysis. Brief remarks explain the results and illustrate their potential economic usefulness.

Suggested Citation

  • Raaj Sah, 1999. "Some Results for the Comparative Statics of Steady-States of Higher-Order Discrete Dynamic Systems," Working Papers 9916, Harris School of Public Policy Studies, University of Chicago.
  • Handle: RePEc:har:wpaper:9916
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    References listed on IDEAS

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    1. Murata, Yasuo, 1977. "Mathematics for Stability and Optimization of Economic Systems," Elsevier Monographs, Elsevier, edition 1, number 9780125112505 edited by Shell, Karl.
    2. Sah, Raaj K, 1991. "Social Osmosis and Patterns of Crime," Journal of Political Economy, University of Chicago Press, vol. 99(6), pages 1272-1295, December.
    3. Rosen, Sherwin & Murphy, Kevin M & Scheinkman, Jose A, 1994. "Cattle Cycles," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 468-492, June.
    4. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    5. Conlisk, John, 1973. "Quick Stability Checks and Matrix Norms," Economica, London School of Economics and Political Science, vol. 40(160), pages 402-409, November.
    6. Harriff, Richard & Bear, Donald V T & Conlisk, John, 1980. "Stability and Speed of Adjustment under Retiming of Lags," Econometrica, Econometric Society, vol. 48(2), pages 355-370, March.
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    Cited by:

    1. Sah, Raaj, 2007. "Corruption across countries and regions: Some consequences of local osmosis," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2573-2598, August.

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