Econometrica: Jan 1972, Volume 40, Issue 1

Tatonnement Stability: An Econometric Approach

https://doi.org/0012-9682(197201)40:1<27:TSAEA>2.0.CO;2-P
p. 27-42

M. G. Allingham

This paper investigates the working of a multifunction tatonnement stability process in an actual economy by simulating the adjustment path of an abstract disequilibrium model in conjunction with an econometric equilibrium model, indicating that such a path is highly stable.

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