Local asymptotic stability of optimal steady states

Henri Huijberts; Cees Withagen

doi:10.1016/0165-1765(92)90236-R

Local asymptotic stability of optimal steady states

Henri Huijberts, Cees Withagen^*

^*Corresponding author for this work

Research output: Contribution to Journal › Article › Academic › peer-review

Abstract

This note provides a sufficient condition for steady states arising from economic optimal control models to be locally asymptotically stable. In particular, we show that if some submatrix of the matrix of eigenvectors of the corresponding Jacobian is invertible, the stable manifolds is locally y-parametrizable.

Original language	English
Pages (from-to)	7-11
Number of pages	5
Journal	Economics Letters
Volume	40
Issue number	1
DOIs	https://doi.org/10.1016/0165-1765(92)90236-R
Publication status	Published - Sept 1992

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title = "Local asymptotic stability of optimal steady states",

abstract = "This note provides a sufficient condition for steady states arising from economic optimal control models to be locally asymptotically stable. In particular, we show that if some submatrix of the matrix of eigenvectors of the corresponding Jacobian is invertible, the stable manifolds is locally y-parametrizable.",

author = "Henri Huijberts and Cees Withagen",

year = "1992",

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AU - Huijberts, Henri

AU - Withagen, Cees

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AB - This note provides a sufficient condition for steady states arising from economic optimal control models to be locally asymptotically stable. In particular, we show that if some submatrix of the matrix of eigenvectors of the corresponding Jacobian is invertible, the stable manifolds is locally y-parametrizable.

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JO - Economics Letters

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Local asymptotic stability of optimal steady states

Abstract

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