avoid shirking, firms pay fair wages. The wage norms change endogenously, and the result is hysteresis with respect to both …

Wir konstruieren ein neues Modell unbeobachteter Komponenten mit Markov-Switching zur Analyse von Hysterese … Konjunkturzyklus. Es zeigt sich, dass der jahrzehntelange Aufwärtstrend der Arbeitslosigkeit in Deutschland vollständig durch Hysterese … erklärt werden kann. Dagegen folgte die Arbeitslosigkeit in den USA keinem Hysterese-Muster, auch nicht während der großen …

unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this …Despite conventional macroeconomic theory is based on the idea that demand shocks can only have temporary effects on … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification …

enables hysteresis to be taken into account. Hysteresis is likely to show up in unemployment but it can also affect the … capital stock due to the existence of long investment cycles. In the proposed model, hysteresis may affect all the factor … be computed that are hysteresis-free and less prone to volatility. A complementary measure of the output gap that takes …

Empirical studies support the hysteresis hypothesis that recessions have a permanent effect on the level of output. We … analyze the implications of hysteresis for fiscal policy in a DSGE model. We assume a simple learning-by-doing mechanism where … demand-driven changes in employment can affect the level of productivity permanently, leading to hysteresis in output. We …

an algorithm describing path-dependent play-hysteresis into a regression framework. The hysteretic impact of real …" genannt wird. Wir integrieren einen Algorithmus, der pfadabhängige Hysterese beschreibt, in ein Regressionsmodell. Der …

. Adjustment costs of changing benefits can introduce hysteresis in benefit setting and unemployment. Both (very) bad and good … feature of the model is that the mechanism yielding hysteresis (which requires a concave utility function) ceases to operate …

evidence of the importance of sunk costs and hysteresis in international trade. …