DYNAMICS REPORTED reports on recent developments in dynamical systems. Dynamical systems of course originated from ordinary differential equations. Today, dynamical systems cover a much larger area, including dynamical processes described by functional and integral equations, by partial and stochastic differential equations, etc. Dynamical systems have involved remarkably in recent years. A wealth of new phenomena, new ideas and new techniques are proving to be of considerable interest to scientists in rather different fields. It is not surprising that thousands of publications on the theory itself and on its various applications are appearing DYNAMICS REPORTED presents carefully written articles on major subjects in dynam ical systems and their applications, addressed not only to specialists but also to a broader range of readers including graduate students. Topics are advanced, while detailed expo sition of ideas, restriction to typical results - rather than the most general ones - and, last but not least, lucid proofs help to gain the utmost degree of clarity. It is hoped, that DYNAMICS REPORTED will be useful for those entering the field and will stimulate an exchange of ideas among those working in dynamical systems Summer 1991 Christopher K. R. T Jones Drs Kirchgraber Hans-Otto Walther Managing Editors Table of Contents Hyperbolicity and Exponential Dichotomy for Dynamical Systems Neil Fenichel 1. Introduction . . . . . . . . . . . . . . . . . . I 2. The Main Lemma . . . . . . . . . . . . . . . . 2 3. The Linearization Theorem of Hartman and Grobman 5 4. Hyperbolic Invariant Sets: EURO-orbits and Stable Manifolds 6 5.