Hysteresis and the Modeling of Economic Phenomena
AbstractThree definitions of hysteresis in dynamic economic models are considered in order of their increasing ability to project history onto the present in a significant way. The third of these definitions is based on the substitution of 'historical' for 'logical' time in the model's dynamic structure.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Review of Political Economy.
Volume (Year): 11 (1999)
Issue (Month): 2 ()
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