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Price and Quantity Trajectories: Second-order Dynamics
disequilibrium economics Walrasian adjustment Marshallian adjustment SMD theorem Helmholtz-Hodge decomposition theorem
2012/4/28
In two previous papers the author developed a second-order price adjustment (t\^atonnement) process. This paper extends the approach to include both quantity and price adjustments. We demonstrate thre...
An Analysis of Oil Price Behaviour
Time series analysis oil prices density forecasting interval forecasting
2010/9/7
After a brief summary of oil price behaviour from 1946 onwards, the problem of modelling daily oil prices from 1990 onwards is addressed. The arbitrage pricing continuous time models from the literatu...