Further applications of a general rate conservation law

Some further applications of a General Rate Conservation Law (GRCL) for stationary semimartingales are presented. GRCL is used to characterize the distribution of the reflection of Levy processes with arbitrary jumps. The stationary distribution of a general jump-diffusion with a reflecting boundary is derived and an interesting stochastic decomposition result is obtained. A multidimensional version of GRCL is used to examine the stationary behaviour of a multidimensional reflected Levy process. The relationship between GRCL and pathwise rate conservation is reviewed.