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Global Stability with Spillovers

John Eckalbar ()

The Economic Record, 1979, vol. 55, issue 2, 172-178

Abstract: This paper investigates the stability of a small, highly stylized economy, which has imperfectly informed traders visiting markets sequentially. Trading out of equilibrium is allowed. Roughly speaking, this system is found to be stable, even though spillovers are present, as long as the direct effects of price changes dominate the spillovers.

Date: 1979
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https://doi.org/10.1111/j.1475-4932.1979.tb02217.x

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