Stability of spatial equilibrium

Takatoshi Tabuchi, Dao Zhi Zeng

研究成果: Article査読

19 被引用数 (Scopus)

抄録

Asymptotic stability of equilibrium is often difficult to know when the number of variables exceeds four, since all eigenvalues of the Jacobian matrix are not analytically solvable. However, we obtain stability conditions for a general class of migration dynamics without computing eigenvalues. We show that a spatial equilibrium is stable in the presence of strong congestion diseconomies, but unstable in the presence of strong agglomeration economies. We also show existence of a stable equilibrium in the case of negligible interregional externalities, which is applicable to club goods, local public goods, and new economic geography.

本文言語English
ページ(範囲)641-660
ページ数20
ジャーナルJournal of Regional Science
44
4
DOI
出版ステータスPublished - 2004 11 1
外部発表はい

ASJC Scopus subject areas

  • Development
  • Environmental Science (miscellaneous)

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