Stability Theory

Contents

I - STABILITY THEORY: INTRODUCTION

(1) Disequilibrium and Adjustment
(2) Answering the Question
(3) Equilibrium Theory and Process Theory
(4) Hicks and After

II - THE NEOCLASSICAL LAWS OF ADJUSTMENT

(1) Walrasian Tâtonnement
(2) Marshallian Stability
(3) Walrasian versus Marshallian Dynamics
(4) Walrasian cum Marshallian Dynamics
(5) Comparative Statics and Dynamics
(A) Comparative Statics versus Dynamics
(B) The Correspondence Principle

III - TĀTONNEMENT: LOCAL STABILITY

(1) Introduction
(2) The Hicks Conditions (Slope Stability)
        (A) Imperfect Stability
        (B) Perfect Stability
(3) The Metzler Conditions (Dynamic Stability)
        (A) Dynamic Stability and Stable Matrices
        (B) Gross Substitution
        (C) McKenzie's Conditions and Complementarity

IV - TĀTONNEMENT: GLOBAL STABILITY

(1) Global Stability
(2) The Scarf-Gale Critique

V - NON-TĀTONNEMENT STABILITY

(1) Edgeworth-Uzawa Process
(2) The Hahn Process
(3) Other Processes

VI - DUAL DYNAMICS

(1) Cross-Dual Dynamics in a Single Market
(2) Cross-Dual Dynamics with Multiple Markets
(3) Keynes-Leontief Direct-Dual Dynamics
(4) Composite Dynamics

Mathematical Appendix: Differential Equations, Stable Matrices, Lyapunov's Method

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