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In cosmology, the steady-state model or steady state theory is an alternative to the Big Bang theory. In the steady-state model, the density of matter in the expanding universe remains unchanged due to a continuous creation of matter, thus adhering to the perfect cosmological principle , a principle that says that the observable universe is ...
Steady state determination is an important topic, because many design specifications of electronic systems are given in terms of the steady-state characteristics. Periodic steady-state solution is also a prerequisite for small signal dynamic modeling. Steady-state analysis is therefore an indispensable component of the design process.
A steady-state economy is not to be confused with economic stagnation: Whereas a steady-state economy is established as the result of deliberate political action, economic stagnation is the unexpected and unwelcome failure of a growth economy. An ideological contrast to the steady-state economy is formed by the concept of a post-scarcity economy.
Sir Hermann Bondi KCB FRS [1] (1 November 1919 – 10 September 2005) [7] was an Austrian-British mathematician and cosmologist.. He is best known for developing the steady state model of the universe with Fred Hoyle and Thomas Gold as an alternative to the Big Bang theory.
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Uzawa's theorem, also known as the steady-state growth theorem, is a theorem in economic growth that identifies the necessary functional form of technological change for achieving a balanced growth path in the Solow–Swan and Ramsey–Cass–Koopmans growth models. It was proved by Japanese economist Hirofumi Uzawa in 1961. [1]
The steady state approximation, [1] occasionally called the stationary-state approximation or Bodenstein's quasi-steady state approximation, involves setting the rate of change of a reaction intermediate in a reaction mechanism equal to zero so that the kinetic equations can be simplified by setting the rate of formation of the intermediate equal to the rate of its destruction.
The efficient level of capital income tax in the steady state has been studied in the context of a general equilibrium model and Judd (1985) has shown that the optimal tax rate is zero. [6] However, Chamley (1986) says that in reaching the steady state (in the short run) a high capital income tax is an efficient revenue source. [7]