Only after this process has run its course will a new long-run equilibrium be attained in the domestic money market, the currency exchange market, and the goods market.

Other economists argue that price adjustment may take so much time that the process of equilibration may change the underlying conditions that determine long-run equilibrium.

There is therefore a globally stable long-run equilibrium at.

Analysis often revolves around causes of such price stickiness and their implications for reaching a hypothesized long-run equilibrium.

Classical economics focused on the tendency of markets to move to long-run equilibrium.

The new environment enables new kinds of businesses and people must learn new skills and exploit new opportunities to achieve long-run equilibrium.

It distinguishes temporary, intermediate, and long-run equilibrium with expectations as to future market conditions affecting behaviour in current markets (Bliss, 1987, pp.

Why in long-run equilibrium will a company's cost of capital exceed its growth rate?

Richard Cantillon defined long-run equilibrium as the balance of flows of income, and argued that the supply and demand mechanism around land influenced short-term prices.

(Note that this also involves a lower rate of unemployment than the long-run equilibrium would suggest.)