Download or read book Hysteresis Effects in Economic Models written by Wolfgang Franz and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is devoted to the hysteresis phenomenon in economic relationships. This topic has received renewed attention in economics especially in the late eigh ties. Since the issue is not settled there is still a growing literature on it. The aim of this volume is to summarize the findings, present new results, and to draw attention to further research. All papers are written for this volume and are not published elsewhere. I am very grateful to all authors and referees without whose prompt and generous help this volume would not appear in the present form. A short summary of each paper is given in section 5 of the overview paper. Konstanz, January 1990 Wolfgang Franz University of Konstanz Contents Hysteresis in Economic Relationships: An Overview W. Franz . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Hysteresis in Trade R. Baldwin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Some Evidence on the Membership Hysteresis Hypothesis in Europe M. C. Burda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Insider-Outsider Influences on Industry Wages D. T. Coe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Testing for Hysteresis in Unemployment An Unobserved Components Approach A. Jaeger and M. Parkinson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Unemployment and Deterioration of Human Capital J. Moller . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Hysteresis, Nairn and Long Term Unemployment in Austria P. Neudorfer, K. Pichelmann and M. Wagner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Hysteresis in Economic Relationships: An Overview l By W. Franz Can the socialist man be created so as not to show any hysteresis trace of his bourgois or peasant past? N. Georgescu-Roegen (l971. p. 126) 1 Introduction The hysteresis phenomenon has received renewed attention in economic science.

Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.

Download or read book Hysteresis Effects in Economic Models written by Wolfgang Franz and published by . This book was released on 1990-07-13 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Differential Models of Hysteresis written by Augusto Visintin and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hysteresis effects occur in science and engineering: plasticity, ferromagnetism, ferroelectricity are well-known examples. This volume provides a self-contained and comprehensive introduction to the analysis of hysteresis models, and illustrates several new results in this field.

Download or read book Systems with Hysteresis written by Mark A. Krasnosel'skii and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hysteresis phenomena are common in numerous physical, mechanical, ecological and biological systems. They reflect memory effects and process irreversibility. The use of hysteresis operators (hysterons) offers an approach to macroscopic modelling of the dynamics of phase transitions and rheological systems. The applications cover processes in electromagnetism, elastoplasticity and population dynamics in particular. Hysterons are also typical elements of control systems where they represent thermostats and other discontinuous controllers with memory. The book offers the first systematic mathematical treatment of hysteresis nonlinearities. Construction procedures are set up for hysterons in various function spaces, in continuous and discontinuous cases. A general theory of variable hysterons is developed, including identification and stability questions. Both deterministic and non-deterministic hysterons are considered, with applications to the study of feedback systems. Many of the results presented - mostly obtained by the authors and their scientific group - have not been published before. The book is essentially self contained and is addressed both to researchers and advanced students.

Download or read book Hysteresis and Phase Transitions written by Martin Brokate and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hysteresis is an exciting and mathematically challenging phenomenon that oc curs in rather different situations: jt, can be a byproduct offundamental physical mechanisms (such as phase transitions) or the consequence of a degradation or imperfection (like the play in a mechanical system), or it is built deliberately into a system in order to monitor its behaviour, as in the case of the heat control via thermostats. The delicate interplay between memory effects and the occurrence of hys teresis loops has the effect that hysteresis is a genuinely nonlinear phenomenon which is usually non-smooth and thus not easy to treat mathematically. Hence it was only in the early seventies that the group of Russian scientists around M. A. Krasnoselskii initiated a systematic mathematical investigation of the phenomenon of hysteresis which culminated in the fundamental monograph Krasnoselskii-Pokrovskii (1983). In the meantime, many mathematicians have contributed to the mathematical theory, and the important monographs of 1. Mayergoyz (1991) and A. Visintin (1994a) have appeared. We came into contact with the notion of hysteresis around the year 1980.

Download or read book Hysteresis written by José Carlos Dias and published by Nova Science Publishers. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of complex hysteresis problems has become increasingly important in recent years, since the hysteresis phenomenon affects significantly the decisions that have to be rendered in a wide range of real-world practical applications. For example, the so-called hysteresis effects may influence substantially some fields not directly related to the natural sciences such as finance, economy, or fiscal policy. In addition, such phenomenon is also typically present in many engineering and physics applications of interest such as in magnetism, spin-valve technology, semiconductors, surface physics, aeronautical and civil engineering aerodynamics, complex battery systems, biology, etc. This book focuses on the most recent attempts for modeling a diverse variety of complex hysteresis problems faced in economics, engineering, and physics. The chapters of this book provide a self-contained, rigorous, and clear treatment of the different types and sources of hysteresis under a large spectrum of applications. The book also highlights how stochastic control and other mathematical tools as well as econometric techniques can be applied for analyzing the complex properties of hysteresis problems. This authoritative book is a definitive guide on how to understand the newest designs for modeling hysteresis in highly complex systems and thus it will be an essential reading for graduate students and researchers in economics, engineering, and physics.

Download or read book Rapid Growth and Relative Decline written by M. Setterfield and published by Springer. This book was released on 1996-12-17 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do high rates of economic growth create conditions favourable to their own maintenance? Or can a period of high growth 'sow the seeds of its own destruction'? This book addresses these questions by conceiving growth and structural change as path dependent processes. Methodological, theoretical and empirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institutional changes may cause the dynamics of a period of high growth to break down. This casts new light on the debate over Britain's economic decline.

Download or read book Macroeconomics written by Wendy Carlin and published by Oxford University Press. This book was released on 2024-01-29 with total page 1019 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the cutting edge of the subject area, the authors bring the macroeconomics that researchers and policymakers use today into focus. By developing a coherent set of tractable models, the book enables students to explore and make sense of the pressing questions facing global economies.Carlin and Soskice connect students with contemporary research and policy in macroeconomics. The authors' 3-equation model - extended to include the financial system and with an integrated treatment of inequality - equips students with a method they can apply to the enduring challenges stirred by the financial crisis and the Great Recession.Key features* Engaged with the latest developments in macroeconomic research, policy, and debate, the authors make the cutting edge accessible to undergraduate readers* The theme of inequality is integrated throughout in modelling and applications, with incomplete contracts in labour and credit markets underpinning the presence of involuntary unemployment and credit constraints* The content distils business cycles into a 3-equation model of the demand side, the supply side, and the policy maker, providing a realistic and transparent model which students can deploy to address the questions that interest them* Open economy modelling for both flexible and fixed exchange rate regimes builds on the same foundations and handles oil and climate shocks, as well as the Eurozone crisis* Features thorough treatment of the financial system and how to integrate the financial and business cycles, including coverage on policy design and implementation for financial stability in the wake of the 2008-9 financial crisis and an exploration of hysteresis in the context of the Great Recession* Comprehensive coverage of monetary policy including the ample reserves regime and of fiscal policy and debt dynamics* Unified treatment of exogenous and endogenous growth models emphasizing the different mechanisms through which diminishing returns to capital can be offset, while Chapter 17 on the ICT revolution examines the implications of innovation and technological change on the future of work and inequality* Contains a chapter considering contemporary quantitative macroeconomics research - including the Heterogeneous Agent New Keynesian (HANK) model - exposing students to the tools that researchers currently use, as well as the benefits and limitations of these methods* End-of-chapter 'Checklist questions' enable students to assess their comprehension, while 'Problems' prompt students to apply independent critical thought* Also available as an e-book enhanced with access to The Macroeconomic Simulator, Animated Analytical Diagrams, and self-assessment activities enabling students to recap content and investigate how models work at their own paceDigital formats and resourcesThis title is available for students and institutions to purchase in a variety of formats and is supported by online resources.The e-book offers a mobile experience and convenient access along with self-assessment activities, multi-media content, and links that offer extra learning support. For more information visit:www.oxfordtextbooks.co.uk/ebooks/This title is supported by a range of online resource for students including multiple-choice-questions with instant feedback, interactive Animated Analytical Diagrams, access to The Macroeconomic Simulator, web appendices which develop chapters 1, 4, 7, and 18, In addition, lecturers can access PowerPoint slides to accompany each chapter and answers to the problems and questions set in the book.

Download or read book Inflation and Activity Two Explorations and their Monetary Policy Implications written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2015-11-06 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.

Download or read book Encyclopedia of Agrophysics written by Jan Gliński and published by Springer Science & Business Media. This book was released on 2011-06-07 with total page 1075 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Encyclopedia of Agrophysics will provide up-to-date information on the physical properties and processes affecting the quality of the environment and plant production. It will be a "first-up" volume which will nicely complement the recently published Encyclopedia of Soil Science, (November 2007) which was published in the same series. In a single authoritative volume a collection of about 250 informative articles and ca 400 glossary terms covering all aspects of agrophysics will be presented. The authors will be renowned specialists in various aspects in agrophysics from a wide variety of countries. Agrophysics is important both for research and practical use not only in agriculture, but also in areas like environmental science, land reclamation, food processing etc. Agrophysics is a relatively new interdisciplinary field closely related to Agrochemistry, Agrobiology, Agroclimatology and Agroecology. Nowadays it has been fully accepted as an agricultural and environmental discipline. As such this Encyclopedia volume will be an indispensable working tool for scientists and practitioners from different disciplines, like agriculture, soil science, geosciences, environmental science, geography, and engineering.

Download or read book NBER Macroeconomics Annual 1986 written by and published by . This book was released on 1986 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Exchange Rate Economics written by Ronald MacDonald and published by Routledge. This book was released on 2005 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""

Download or read book The Disappointing Recovery written by United States. Congressional Budget Office and published by . This book was released on 1977 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Understanding Inflation and the Implications for Monetary Policy written by Jeff Fuhrer and published by MIT Press. This book was released on 2009-09-11 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment. In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. Contributors Lawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson

Download or read book Macroeconomic Theory and Macroeconomic Pedagogy written by G. Fontana and published by Springer. This book was released on 2016-04-30 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this model, and endogenous money and finance.

Download or read book Feedback Economics written by Robert Y. Cavana and published by Springer Nature. This book was released on 2021-06-30 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book approaches economic problems from a systems thinking and feedback perspective. By introducing system dynamics methods (including qualitative and quantitative techniques) and computer simulation models, the respective contributions apply feedback analysis and dynamic simulation modeling to important local, national, and global economics issues and concerns. Topics covered include: an introduction to macro modeling using a system dynamics framework; a system dynamics translation of the Phillips machine; a re-examination of classical economic theories from a feedback perspective; analyses of important social, ecological, and resource issues; the development of a biophysical economics module for global modelling; contributions to monetary and financial economics; analyses of macroeconomic growth, income distribution and alternative theories of well-being; and a re-examination of scenario macro modeling. The contributions also examine the philosophical differences between the economics and system dynamics communities in an effort to bridge existing gaps and compare methods. Many models and other supporting information are provided as online supplementary files. Consequently, the book appeals to students and scholars in economics, as well as to practitioners and policy analysts interested in using systems thinking and system dynamics modeling to understand and improve economic systems around the world. "Clearly, there is much space for more collaboration between the advocates of post-Keynesian economics and system dynamics! More generally, I would like to recommend this book to all scholars and practitioners interested in exploring the interface and synergies between economics, system dynamics, and feedback thinking." Comments in the Foreword by Marc Lavoie, Emeritus Professor, University of Ottawa and University of Sorbonne Paris Nord