The paper considers stability analysis of a general class of pulse modulated systems in a phasor dynamic framework. The dynamic phasor model exploits the cyclic nature of the modulation functions by representing the system dynamics in terms of a Fourier series expansion defined over a moving time-window. The contribution of the paper is to show that a special type of periodic Lyapunov function can be used to analyze the system and that the analysis conditions become tractable for computation after truncation. The approach provides a trade-off between complexity and accuracy that includes standard state space averaged models as a special case.
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