-term effects on expected employment and labor force participation, suggesting positive hysteresis. Our forecast evaluation tests …

This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the … formal expression for this hysteresis effect in the DEER, studies the convergence properties of a system in which the …. Finally, the paper derives and applies rules of thumb for computing the hysteresis effect when considering the rate of …

levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and … renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery …

multipliers, hysteresis effects, and endogenous financing costs. In addition to informing macro projections, the framework can …. The case for more gradual or back-loaded adjustment is strongest when hysteresis effects are in play, but it needs to be …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a …

we interpret as reflecting hysteresis with a financial twist, in which the financial system causes aggregate supply and …

) to incorporate labor market hysteresis. This extension captures the idea that long and deep recessions (expansions) cause … financial crisis, compared to estimates without hysteresis. The smaller output gaps partly explain the absence of persistent …, hysteresis is expected to result in a structural improvement in growth and employment …