Hysteresis and the Modeling of Economic Phenomena
Three 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.
Volume (Year): 11 (1999)
Issue (Month): 2 ()
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- Cross, Rod B, 1987. " Hysteresis and Instability in the Natural Rate of Unemployment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 89(1), pages 71-89.
- Vickers,Douglas, 1987. "Money Capital in the Theory of the Firm," Cambridge Books, Cambridge University Press, number 9780521328418, Junio.
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- Rod Cross & Michael Grinfeld & Laura Piscitelli, 1999. "Hysteresis in Economic Systems," Computing in Economics and Finance 1999 723, Society for Computational Economics.
- Cross, Rod, 1993. "On the Foundations of Hysteresis in Economic Systems," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 53-74, April.
- Paul Davidson, 1993. "The Elephant and the Butterfly: Or Hysteresis and Post Keynesian Economics," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 15(3), pages 309-322, April.
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