Hysteresis

Mark Setterfield

No 1004, Working Papers from Trinity College, Department of Economics

Abstract: Three competing conceptualizations of hysteresis in economics are identified: the unit/zero root approach, “true” hysteresis, and hysteresis conceived as a product of historical time. The properties of these conceptualizations are discussed and their pros and cons considered.

Keywords: hysteresis; path dependence; unit root; historical time (search for similar items in EconPapers)
JEL-codes: B41 C65 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2010-06
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http://www3.trincoll.edu/repec/WorkingPapers2010/wp10-04.pdf First version, 2010 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:tri:wpaper:1004

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