Steady state

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Steady state

As an MBS pool ages, or four to six months after component mortgages have passed at least once the threshold for refinancing, the prepayment speed tends to stabilize within a fairly steady range.

Steady State

1. Describing an economy that is neither growing nor shrinking. While this is not technically a recession, a steady state economy is not generally considered desirable.

2. See: equilibrium.
References in periodicals archive ?
However, the steady states have stability properties associated with them in a fully dynamic analysis, and the argument is that the targeted steady state is the stable one, while the unintended, low nominal interest rate steady state is unstable.
The model above taught us that the Fisher equation together with a Taylor rule that responds strongly to inflation can lead to multiple steady states and other equilibria because of the lower bound on nominal interest rates.
Thus, when comparing the low real money balances' steady states and dynamic equilibria converging to them, paying interest will be welfare improving.
In this paper we take advantage of the fact that experimental methods allow the underlying parameters of the economy to be observed and manipulated, and we construct and study the behavior of dynamic laboratory macroeconomies that are known to have multiple, locally stable, Pareto-rankable stationary steady states.
To arrive at this estimate, the geometric mean of lead found along the eight streets included in the steady-state surveys was multiplied by the number of steady states reached per year, and then multiplied by the number of kilometers of major streets.
Fitch receives historical performance data and monthly servicing reports from WFNNB and utilizes the information to derive steady states for key performance metrics.
The OECD countries are likely at or near the steady state, with small changes in steady states due to small changes in savings or population growth rates.
OECD countries have never been too far from their steady states, and the reduction of dispersion is mostly explained in terms of convergence in steady states themselves, that is, in the long-run determinants of per capita income (savings rates, human capital accumulation, etc.
By contrast, the modified policy rule implies that there are two steady states ([pi] = [beta] and = [pi] = [beta] [R.
In addition, a fully integrated steady state simulation model covering the entire EO/EG process was developed using the PRO/II simulation platform.
The multiplicity of steady states turns out to be robust also with respect to the introduction of lump-sum monetary transfers.
The same externality also causes the possibility of multiple steady states and hence coordination failure.