The usual ($N, t^{\ast}$)-definition of stability says that an equilibrium point $\bar{x}$ is stable if there exists a finite time $t^{\ast}$ (dependent on a prescribed neighbourhood $N$ of $\bar{x}$ such that, for all $t$ being not less than $t^{\ast}, x(t)$ remains in $N$. The least value, $\bar{t}^{\ast}$ of such $t^{\ast}$ may be a useful concept of dynamic economics, measuring the speed at which the equilibrium is established. In this paper we assume a multi-sectoral model of the Leontief type and obtain various formulas for the measurement of $\bar{t}^{\ast}$.
MLA
Morishima, Michio, and Yukio Kaneko. “On the Speed of Establishing Multi-Sectoral Equilibrium.” Econometrica, vol. 30, .no 4, Econometric Society, 1962, pp. 818-823, https://www.jstor.org/stable/1909328
Chicago
Morishima, Michio, and Yukio Kaneko. “On the Speed of Establishing Multi-Sectoral Equilibrium.” Econometrica, 30, .no 4, (Econometric Society: 1962), 818-823. https://www.jstor.org/stable/1909328
APA
Morishima, M., & Kaneko, Y. (1962). On the Speed of Establishing Multi-Sectoral Equilibrium. Econometrica, 30(4), 818-823. https://www.jstor.org/stable/1909328
We are deeply saddened by the passing of Kate Ho, the John L. Weinberg Professor of Economics and Business Policy at Princeton University and a Fellow of the Econometric Society. Kate was a brilliant IO economist and scholar whose impact on the profession will resonate for many years to come.
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