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Setterfield, Mark - 2015

, and hysteresis – are analyzed. The relationships between path dependency and equilibrium, and path dependency and …

Persistent link: https://www.econbiz.de/10013015044

Path-dependent Equilibria Induced by Genuinely Sticky Expectations

Lamba, Harbir - 2017

We investigate a simple macroeconomic model where rational inflation expectations is replaced by a boundedly rational, sticky, response to changes in the actual inflation rate. Our expectations rule differs from standard sticky models and incorporates truly 'stuck' behavior as opposed to delayed...

Persistent link: https://www.econbiz.de/10012947778

Path Dependency, Hysteresis and Macrodynamics

Setterfield, Mark - 2009

focus on hysteresis. It is argued that hysteresis is a particular type of (rather than a synonym for) path dependency, and … equilibrium. Distinctions are made between stating (or assuming) hysteresis, characterizing hysteresis, and providing a model of … hysteresis, and concrete examples of appeals to hysteresis in macrodynamic analysis are used to illustrate these distinctions …

Persistent link: https://www.econbiz.de/10014213116

Path Dependent Optimal Transport and Model Calibration on Exotic Derivatives

Guo, Ivan - 2019

In this paper, we introduce and develop the theory of semimartingale optimal transport in a path dependent setting. Instead of the classical constraints on marginal distributions, we consider a general framework of path dependent constraints. Duality results are established, representing the...

Persistent link: https://www.econbiz.de/10012896686

Path dependence in aggregate output

Durlauf, Steven N. - 1991

Persistent link: https://www.econbiz.de/10000816945

Path dependence in aggregate output

Durlauf, Steven N. - 1991

Persistent link: https://www.econbiz.de/10000816954

A primal Divisia technical change index based on the output distance function

Feng, Guohua; Serletis, Apostolos - 2010

Persistent link: https://www.econbiz.de/10008661667

The performativity of potential output : pro-cyclicality and path dependency in coordinating European fiscal policies

Heimberger, Philipp; Kapeller, Jakob - In: Review of international political economy : RIPE 24 (2017) 5, pp. 904-928

Persistent link: https://www.econbiz.de/10011812069

The performativity of potential output : pro-cyclicality and path dependency in coordinating European fiscal policies

Heimberger, Philipp; Kapeller, Jakob - 2016

This paper analyzes the performative impact of the European Commission's model for estimating 'potential output', which is used as a yardstick for measuring the 'structural budget balance' of EU countries and, hence, is crucial for coordinating European fiscal policies. In pre-crisis years,...

Persistent link: https://www.econbiz.de/10011779387

A primal Divisia technical change index based on the output distance function

Feng, Guohua; Serletis, Apostolos - In: Journal of econometrics 159 (2010) 2, pp. 320-330

Persistent link: https://www.econbiz.de/10008840475