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 presents and estimates a small open economy dynamic stochastic general-equilibrium model (DSGE) for the Jordanian economy. The model features nominal and real rigidities, imperfect ...

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...