Hysteresis

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Related to Hysteresis effect: Hysteresis loss

Hysteresis

Used to characterize a lagging effect. Firms may fail to enter markets that appear attractive, or firms that are once invested in a market may persist in operating at a loss. The effect is characteristic of investments with high entry and exit costs along with high uncertainty.

Hysteresis

In economics, a situation or indicator that persists despite evidence that it should not. For example, the unemployment rate tends to remain high even after GDP growth has resumed, in part because business owners are afraid that growth will turn negative again even if they have no rational reason for believing so. One may think of hysteresis as an economy's collective memory. See also: Lagging indicator.
References in periodicals archive ?
The additional movement in the exchange rate over the five-year period (over the initial misalignment measure) is thus, in some sense, a measure of the importance of hysteresis effects arising during misalignment.
Our final exercise involves investigating what adjustments should be made to some actual FEER estimates, due to Williamson (1990), when a certain convergence path is assumed and hysteresis effects are taken into account.
However, a full review will not be presented here since the purpose is simply to show how hysteresis effects may be directly related to the direction of wetting, i.
Instead, their recent revisions of their projections for the next decade implicitly incorporate very substantial hysteresis effects.
But our reading of the remaining cases--the experience of Western Europe since the late 1970s and Japan during the 1990s and after--provide strong reason to presume that hysteresis effects on the order of those in table 2 are more likely than not to be a reality.
where r is the interest rate on government bonds, g is the growth rate of potential output, [eta] is the hysteresis effect of current output on future potential output, [tau] is the tax rate, and p is the government spending multiplier.
As these materials evolve, the magnitude of the hysteresis effects may change.
A host of mechanisms could be responsible for these hysteresis effects.
The adjustment depends broadly on how quickly markets clear, how expectations are formed, and whether hysteresis effects are present.
Magnetic hysteresis effects can also affect the geometric factor.
Hysteresis effects were significant with both methods and measurements made on desorption and adsorption curves are not considered comparable.
As nearly every actuating device, Piezo actuators experience hysteresis effects as well as mechanical and electrical losses regarding voltage and reciprocation (JAN).