We pursue a particular approach to analog computation, based on dynami
cal systems of the type used in neural networks research. Our systems
have a fixed structure, invariant in time, corresponding to an unchang
ing number of neurons''. If allowed exponential time for computation,
they turn out to have unbounded power. However, under polynomial-time
constraints there are limits on their capabilities, though being more
powerful than Turing machines. (A similar but more restricted model wa
s shown to be polynomial-time equivalent to classical digital computat
ion in the previous work (Siegelmann and Sontag, 1992).) Moreover, the
re is a precise correspondence between nets and standard nonuniform ci
rcuits with equivalent resources, and as a consequence one has lower b
ound constraints on what they can compute. This relationship is perhap
s surprising since our analog devices do not change in any manner with
input size. We note that these networks are not likely to solve polyn
omially NP-hard problems, as the equality ''P=NP'' in our model implie
s the almost complete collapse of the standard polynomial hierarchy. I
n contrast to classical computational models, the models studied here
exhibit at least some robustness with respect to noise and implementat
ion errors.