Theory Of Macroeconomic Hysteresis is popular PDF and ePub book, written by Isaak D Mayergoyz in 2024-06-27, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Theory Of Macroeconomic Hysteresis can be Read Online from any device for your convenience.
Theory Of Macroeconomic Hysteresis Book PDF Summary
This book deals with the mathematical theory of macroeconomic hysteresis, which is the theory of aggregation of microeconomic hysteresis. Microeconomic sunk cost hysteresis is usually represented by relatively simple hysteresis loops with no discrete memory of past economic shocks. It turns out that macroeconomic aggregation leads to the formation of complex multibranch hysteresis with discrete memory of past economic shocks. Consequently, the macroeconomic aggregation of microeconomic hysteresis results in the emergence of new economic phenomena.In the book, the basic properties of macroeconomic hysteresis are mathematically studied. It is demonstrated that certain important properties of macroeconomic hysteresis (such as history-dependent branching, erasure effects of some past economic shocks, geometric features of macroeconomic hysteresis loops, etc.) are insensitive to specific structures of microeconomic hysteresis subject to aggregation. This suggests that the above properties may be viewed as universal. Furthermore, it is pointed out that these aggregation models have the prediction power of future macroeconomic branching, which may be employed for the prediction of future economic evolution.
Detail Book of Theory Of Macroeconomic Hysteresis PDF
- Author : Isaak D Mayergoyz
- Release : 27 June 2024
- Publisher : World Scientific
- ISBN : 9789811290480
- Genre : Business & Economics
- Total Page : 211 pages
- Language : English
- PDF File Size : 9,6 Mb
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