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Hysteresis

Author

Listed:
  • Mark Setterfield

    (Department of Economics, Trinity College)

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.

Suggested Citation

  • Mark Setterfield, 2010. "Hysteresis," Working Papers 1004, Trinity College, Department of Economics.
    • Handle: RePEc:tri:wpaper:1004
    as

    Download full text from publisher

    File URL: http://www3.trincoll.edu/repec/WorkingPapers2010/wp10-04.pdf
    File Function: First version, 2010
    Download Restriction: no
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    More about this item

    Keywords

    hysteresis; path dependence; unit root; historical time;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools

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