Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary theory

Ulf von Kalckreuth; Manfred Krtscha

Applications of Mathematics (2004)

  • Volume: 49, Issue: 4, page 373-386
  • ISSN: 0862-7940

Abstract

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In economic systems, reactions to external shocks often come with a delay. On the other hand, agents try to anticipate future developments. Both can lead to difference-differential equations with an advancing argument. These are more difficult to handle than either difference or differential equations, but they have the merit of added realism and increased credibility. This paper generalizes a model from monetary economics by von Kalckreuth and Schröder. Working out its stability properties, we present a general method for determining the stability of any solution to a homogeneous linear difference-differential equation with constant coefficients and advancing arguments.

How to cite

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Kalckreuth, Ulf von, and Krtscha, Manfred. "Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary theory." Applications of Mathematics 49.4 (2004): 373-386. <http://eudml.org/doc/33190>.

@article{Kalckreuth2004,
abstract = {In economic systems, reactions to external shocks often come with a delay. On the other hand, agents try to anticipate future developments. Both can lead to difference-differential equations with an advancing argument. These are more difficult to handle than either difference or differential equations, but they have the merit of added realism and increased credibility. This paper generalizes a model from monetary economics by von Kalckreuth and Schröder. Working out its stability properties, we present a general method for determining the stability of any solution to a homogeneous linear difference-differential equation with constant coefficients and advancing arguments.},
author = {Kalckreuth, Ulf von, Krtscha, Manfred},
journal = {Applications of Mathematics},
keywords = {linear difference-differential equations; stability; monetary transmission; linear difference-differential equations; stability; monetary transmission},
language = {eng},
number = {4},
pages = {373-386},
publisher = {Institute of Mathematics, Academy of Sciences of the Czech Republic},
title = {Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary theory},
url = {http://eudml.org/doc/33190},
volume = {49},
year = {2004},
}

TY - JOUR
AU - Kalckreuth, Ulf von
AU - Krtscha, Manfred
TI - Stable solutions to homogeneous difference-differential equations with constant coefficients: Analytical instruments and an application to monetary theory
JO - Applications of Mathematics
PY - 2004
PB - Institute of Mathematics, Academy of Sciences of the Czech Republic
VL - 49
IS - 4
SP - 373
EP - 386
AB - In economic systems, reactions to external shocks often come with a delay. On the other hand, agents try to anticipate future developments. Both can lead to difference-differential equations with an advancing argument. These are more difficult to handle than either difference or differential equations, but they have the merit of added realism and increased credibility. This paper generalizes a model from monetary economics by von Kalckreuth and Schröder. Working out its stability properties, we present a general method for determining the stability of any solution to a homogeneous linear difference-differential equation with constant coefficients and advancing arguments.
LA - eng
KW - linear difference-differential equations; stability; monetary transmission; linear difference-differential equations; stability; monetary transmission
UR - http://eudml.org/doc/33190
ER -

References

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