Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92745
Authors: 
Mukherji, Anjan
Year of Publication: 
2003
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 589
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.
Subjects: 
global stability conditions
dynamics on the plane
excess demand functions
Dulac's Criterion
JEL: 
C62
C61
D50
Document Type: 
Working Paper

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