dynamic equilibrium

(redirected from dynamic equilibria)
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dynamic equilibrium

[dī¦nam·ik ē·kwə′lib·rē·əm]
Also known as kinetic equilibrium.
(mechanics)
The condition of any mechanical system when the kinetic reaction is regarded as a force, so that the resultant force on the system is zero according to d'Alembert's principle.
(physics)
A condition in which several processes act simultaneously to maintain a system in an overall state that does not change with time.
References in periodicals archive ?
x] creates an important nonconvexity in asset dynamics, as the discontinuous law of motion for productive wealth generates multiple dynamic equilibria, with a lower stable dynamic equilibrium at H = [r.
However, Coury and Wen (2009) show that this class of models may have multiple dynamic equilibria (such as stable n-period cycles) away from the steady state even if the steady state appears to be a saddle.
To study dynamic equilibria, we follow the same steps as in the two-equation model, beginning with the linearized model and then moving on to the exact nonlinear model.
Special attention is given to the fact that there are multiple dynamic equilibria compatible with the capital asset pricing model, including the speculative bubble effect.

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