They do badly in a crisis, however, because their “dynamic stochastic” element only amounts to minor fluctuations around a state of equilibrium, and there is no equilibrium during crashes.
The author attempts to use an improved Multiple Equilibrium Model to explore the relations between power structures and the market and the reasons for international oil price fluctuations.
作者通过改进后的多重均衡模型讨论权力与市场两个因素的关系，并对油价波动的原因做出解释。
3
By using the cointegration testing and vector autoregression models, we examine the long-run equilibrium and short-run fluctuations in the growth-led roles of foreign aggregate supply and demand.