In general terms, a dynamic equilibrium describes a state of balance between two processes. The term is used in scientific fields such as chemistry and physics which is where it originates. This ...
This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of ...
A dynamic equilibrium is formed in a reversible reaction when the rates of the forward and reverse reaction are equal and the amounts of the reactants and the products remains constant. In this ...