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Stochastic Stability of Short-Run Market Equilibrium: A Comment

Ramesh M. Kulkarni; G.S. Ladde

State University of New York at Potsdam

Quarterly Journal of Economics 1979

The stability analysis of a short-run market system under ran-dom disturbances was initiated by Turnovsky [1968]. Later on, Re-vankar [1971] observed that the selection of a Liapunov function is

DOI
10.2307/1884480
Volume
93 (4)
Pages
731
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