<p>Would this general definition suffice for any steady state:</p>
<p><strong>In steady state allocations and prices are constant (or growing at constant rate)</strong></p>
<p>So for instance if I define an Arrow-Debreu equilibrium with prices and allocations, I can for every price and allocation generally say:</p>
<p><span class="math-container">$x_{t}$</span> = <span class="math-container">$x_{t+1}$</span> = <span class="math-container">$x$</span></p>
<p>Is there a standard agreed upon definition that I can always rely on?</p>

CC BY-SA 4.0
2021-12-10T11:41:44.003Z
https://economics.stackexchange.com/questions/25770/what-does-steady-state-mean
Kinno
CC BY-SA 4.0
2021-12-11T13:01:43.013Z
This seems to be duplicate of the Q linked in the other comments can you please explain why the answer there does not answer your Q?
1muflon1
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2021-12-13T07:53:54.407Z
The answers there says it depends on context. But there has to be a general definition in terms of competitive equilibria given allocations and prices. I think it is when per capita allocations are constant and real prices are constant, although it is possible for aggregate variables to grow.
Rumi
<macroeconomics>
General Definition of Steady State?
Rumi
# General Definition of Steady State?

(Asked by: username_0 on 2021-12-10)

Would this general definition suffice for any steady state:

**In steady state allocations and prices are constant (or growing at constant rate)**

So for instance if I define an Arrow-Debreu equilibrium with prices and allocations, I can for every price and allocation generally say:

$x\_{t}$ = $x\_{t+1}$ = $x$

Is there a standard agreed upon definition that I can always rely on?

**Tags:** macroeconomics
> **Comments:**
> **username_1**: https://economics.stackexchange.com/questions/25770/what-does-steady-state-mean  
> **username_2**: This seems to be duplicate of the Q linked in the other comments can you please explain why the answer there does not answer your Q?  
> **username_0**: The answers there says it depends on context. But there has to be a general definition in terms of competitive equilibria given allocations and prices. I think it is when per capita allocations are constant and real prices are constant, although it is possible for aggregate variables to grow.  

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