Hysteresis Effects in Economic Models
Hysteresis Effects in Economic Models

Author: Wolfgang Franz

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 127

ISBN-13: 3642515436

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This volume is devoted to the hysteresis phenomenon in economic relationships. This topic has received renewed attention in economics especially in the late eigh ties. Since the issue is not settled there is still a growing literature on it. The aim of this volume is to summarize the findings, present new results, and to draw attention to further research. All papers are written for this volume and are not published elsewhere. I am very grateful to all authors and referees without whose prompt and generous help this volume would not appear in the present form. A short summary of each paper is given in section 5 of the overview paper. Konstanz, January 1990 Wolfgang Franz University of Konstanz Contents Hysteresis in Economic Relationships: An Overview W. Franz . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Hysteresis in Trade R. Baldwin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Some Evidence on the Membership Hysteresis Hypothesis in Europe M. C. Burda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Insider-Outsider Influences on Industry Wages D. T. Coe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Testing for Hysteresis in Unemployment An Unobserved Components Approach A. Jaeger and M. Parkinson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Unemployment and Deterioration of Human Capital J. Moller . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Hysteresis, Nairn and Long Term Unemployment in Austria P. Neudorfer, K. Pichelmann and M. Wagner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Hysteresis in Economic Relationships: An Overview l By W. Franz Can the socialist man be created so as not to show any hysteresis trace of his bourgois or peasant past? N. Georgescu-Roegen (l971. p. 126) 1 Introduction The hysteresis phenomenon has received renewed attention in economic science.

Hysteresis and Business Cycles
Hysteresis and Business Cycles

Author: Ms.Valerie Cerra

Publisher: International Monetary Fund

Published: 2020-05-29

Total Pages: 50

ISBN-13: 1513536990

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Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.

Differential Models of Hysteresis
Differential Models of Hysteresis

Author: Augusto Visintin

Publisher: Springer Science & Business Media

Published: 2013-06-29

Total Pages: 420

ISBN-13: 3662115573

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Hysteresis effects occur in science and engineering: plasticity, ferromagnetism, ferroelectricity are well-known examples. This volume provides a self-contained and comprehensive introduction to the analysis of hysteresis models, and illustrates several new results in this field.

Theory Of Macroeconomic Hysteresis
Theory Of Macroeconomic Hysteresis

Author: Isaak D Mayergoyz

Publisher: World Scientific

Published: 2024-06-27

Total Pages: 211

ISBN-13: 9811290482

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This book deals with the mathematical theory of macroeconomic hysteresis, which is the theory of aggregation of microeconomic hysteresis. Microeconomic sunk cost hysteresis is usually represented by relatively simple hysteresis loops with no discrete memory of past economic shocks. It turns out that macroeconomic aggregation leads to the formation of complex multibranch hysteresis with discrete memory of past economic shocks. Consequently, the macroeconomic aggregation of microeconomic hysteresis results in the emergence of new economic phenomena.In the book, the basic properties of macroeconomic hysteresis are mathematically studied. It is demonstrated that certain important properties of macroeconomic hysteresis (such as history-dependent branching, erasure effects of some past economic shocks, geometric features of macroeconomic hysteresis loops, etc.) are insensitive to specific structures of microeconomic hysteresis subject to aggregation. This suggests that the above properties may be viewed as universal. Furthermore, it is pointed out that these aggregation models have the prediction power of future macroeconomic branching, which may be employed for the prediction of future economic evolution.

Systems with Hysteresis
Systems with Hysteresis

Author: Mark A. Krasnosel'skii

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 429

ISBN-13: 3642613020

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Hysteresis phenomena are common in numerous physical, mechanical, ecological and biological systems. They reflect memory effects and process irreversibility. The use of hysteresis operators (hysterons) offers an approach to macroscopic modelling of the dynamics of phase transitions and rheological systems. The applications cover processes in electromagnetism, elastoplasticity and population dynamics in particular. Hysterons are also typical elements of control systems where they represent thermostats and other discontinuous controllers with memory. The book offers the first systematic mathematical treatment of hysteresis nonlinearities. Construction procedures are set up for hysterons in various function spaces, in continuous and discontinuous cases. A general theory of variable hysterons is developed, including identification and stability questions. Both deterministic and non-deterministic hysterons are considered, with applications to the study of feedback systems. Many of the results presented - mostly obtained by the authors and their scientific group - have not been published before. The book is essentially self contained and is addressed both to researchers and advanced students.

Models of Hysteresis
Models of Hysteresis

Author: Augusto Visintin

Publisher: CRC Press

Published: 1993-06-05

Total Pages: 440

ISBN-13: 9780582209008

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Hysteresis effects appear in several physical phenomena, such as ferromagnetism, ferroelectricity and plasticity. They also appear in many fields of engineering. This state-of-the-art volume provides a unique insight into this relatively new, but rapidly developing, topic of applied mathematics.