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Hysteresis and the Modeling of Economic Phenomena

  • Donald Katzner
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    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.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/095382599107101
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    Article provided by Taylor & Francis Journals in its journal Review of Political Economy.

    Volume (Year): 11 (1999)
    Issue (Month): 2 ()
    Pages: 171-181

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    Handle: RePEc:taf:revpoe:v:11:y:1999:i:2:p:171-181
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    1. Donald W. Katzner, 1993. "Some Notes on the Role of History and the Definition of Hysteresis and Related Concepts in Economic Analysis," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 15(3), pages 323-345, April.
    2. repec:cup:cbooks:9780521368513 is not listed on IDEAS
    3. Cross, Rod, 1993. "On the Foundations of Hysteresis in Economic Systems," Economics and Philosophy, Cambridge University Press, vol. 9(01), pages 53-74, April.
    4. repec:cup:cbooks:9780521328418 is not listed on IDEAS
    5. Rod Cross & Michael Grinfeld & Laura Piscitelli, 1999. "Hysteresis in Economic Systems," Computing in Economics and Finance 1999 723, Society for Computational Economics.
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