Équations Différentielles Linéaires et Transformation de by B. Malgrange

By B. Malgrange

Ces notes reprennent et développent los angeles matière de three exposés
faits à l'IMPA en mai-juin 88. Leur contenu n'est guère unique, et
pour l'essentiel il est bien connu des spécialistes. Mais, malgré son
caractère élémentaire (au moins, au début), il n'est available que
dans des articles très spécialisés, et d'un haut niveau de technicité.
Peut-être y a-t-il là une lacune, que ces notes aideront à combler.

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Extra resources for Équations Différentielles Linéaires et Transformation de Fourier: Une Introduction

Example text

This situation also means that it is difficult to persuade anyone to part with excess cash and that interest rates, as a result, are significantly higher than they are in the United States or Western Europe. But let us return to the main thread of our argument. We have stated that we would be willing to part with our excess cash when the interest we receive is adequate, but what do we really mean by “adequate”? Since any amount of interest that we can earn on our money is better than earning nothing on it, why should we turn down, say, 1 percent and insist on getting 4 percent?

He sees no necessity, therefore, to hold more cash than he might need to cover the first few days of a net outflow. ” This means that he will invest some of his available cash in a form that will permit him to turn it back into cash at little risk and on short notice. S. Treasury obligations that will be maturing in the near future; these will give him back his cash in a short time in any case and, if he needs the cash before maturity, he can readily find a buyer for these securities at a price close to what he paid for them.

Wholesalers will tell manufacturers to ship a smaller quantity of goods. Manufacturers will then have to cut back on their production schedules; their employees will probably be laid off or will work fewer hours. In time, then, the inability to finance the purchase of goods at higher prices results in unemployment and excess productive capacity. The forces of competition at work when businessmen can produce more than they are able to sell will probably lead to the elimination of the price increase.

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