Theory Of Macroeconomic Hysteresis
Regular price
€92.99
Regular price
€93.99
Sale
Sale price
€92.99
14 days return policy
Shipping & Delivery
A01=Can E Korman
A01=Isaak D Mayergoyz
Age Group_Uncategorized
Age Group_Uncategorized
Aggregation Models
Author_Can E Korman
Author_Isaak D Mayergoyz
automatic-update
Binary Actions
Binary Random Processes
Category1=Non-Fiction
Category=KCB
Category=KCH
Category=KCHS
Congruency Property
COP=Singapore
Delivery_Delivery within 10-20 working days
Diagram Technique
Distributed Memory
Economic Hysteresis
eq_bestseller
eq_business-finance-law
eq_isMigrated=0
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Erasure Property
Exit Problem
Expected Value
Fokker-Planck Equation
IID Process
Input-Output Approach
Investment Under Uncertainty
Kolmogorov Equation
Language_English
Leontief Model
Macroeconomic Hysteresis
Markov Process
Markovian Hysteresis
Mean Reversion
Microeconomic Hysteresis
Microeconomic Hysteresis Loop
Multi-input Models
Multibranch Hysteresis
Natural Rate Hypothesis
Natural Rate of Unemployment
Noise in Hysteretic Systems
Non-Markovian Hysteresis
Ornstein-Uhlenbeck Process
PA=Available
Path Independence Property
Play Hysteresis
Prandtl-Ishlinskii Model
Preisach Models
Price_€50 to €100
PS=Active
Random Switching
Rate-Independent Hysteresis
Rectangular Loop
softlaunch
Stochastic Differential Equation
Stochastic Processes
Stochastic Processes on Graphs
Strong Hysteresis
Sunk Cost Hysteresis
Vasicek Model
Weak Hysteresis
Product details
- ISBN 9789811290466
- Publication Date: 23 Jul 2024
- Publisher: World Scientific Publishing Co Pte Ltd
- Publication City/Country: SG
- Product Form: Hardback
- Language: English
Secure
checkout
Fast Shipping
Easy returns
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.
