Price Dynamics in Equilibrium Models O.P 1- RM-Test

1- RM-Test

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Price Dynamics in Equilibrium Models O.P 1- RM-TestA long standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are `bounded rationality' and `nonlinear dynamics'. Important sub themes of the book are