The paper develops a general methodology for analyzing policies with path-dependency (hysteresis) in stochastic models … dynamics of hysteresis with respect to time, a form of a time derivative, and the expected dynamics of hysteresis with the …, we propose a general class of hysteresis functionals that permits significant tractability. Second, we characterize in …

for 29 countries from the OECD. We find strong evidence of hysteresis: an innovation in u causes u* to change in the same …

hysteresis embodying the idea that the equilibrium unemployment rate depends on the history of the actual unemployment rate. This … paper summarizes two directions of research on hysteresis that appear especially promising. Membership theories are based on …

returns to its previous level. When we develop a simple model of the feedback from "hysteresis" in trade to the exchange rate …

-home wages did not respond). Second, we document novel labor-demand-driven "hysteresis" from this policy - i.e. persistent … reform level in the formerly subsidized ages. These hysteresis effects triple the direct employment effects of the reform …

I develop a version of the New Keynesian model with insider-outsider labor markets and hysteresis that can account for … fails to deliver, with the gap between the two increasing in the degree of hysteresis. Two simple targetiing rules are shown …