A new type of input-output stability is defined, based on the use of a
Sobolev space W; W is well suited, like the Lebesgue space L(2), to o
btain stability characterizations in the time and frequency domains. M
oreover, if compared with L(2). W has additional properties which enab
le us to establish ''local'' stability results. A local version of the
small gain theorem is established in this framework, as well as some
consequences of this result, in particular local versions of the passi
vity theorem and of the circle criterion. The relationship between ''W
-stability'' and asymptotic stability is studied.