ADVERTISEMENTS: Steady State Growth of Economy: Meaning and Properties! Meaning: The concept of steady state growth is the counterpart of long-run equilibrium in static theory. It is consistent with the concept of equilibrium growth. In steady state growth all variables, such as output, population, capital stock, saving, investment, and technical progress, either grow at constant […]
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Re: Linearization by jpfeifer » Thu Jun 08, 2017 6:31 am If I understand you correctly, you want to use the lognormal trick to approximate around a kind of stochastic steady state.
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Abstract In this paper we consider a nonlinear control design for nonlinear systems by using two-stage formal linearization and twotype LQ controls. The ordinary LQ control is designed on almost linear region around the steady state point. On the other region, another control is derived as follows.
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May 05, 2012 · linearise them around the steady-state. It sounds easy, but it sometimes requires ingenuity and pro ciency. This note is written for illustrating log-linearisation and presenting several methods, which method you are suppose to use is on your discretion.