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Path dependency and macroeconomics

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Published by Palgrave Macmillan in New York .
Written in English

Subjects:

  • Evolutionary economics,
  • Hysteresis,
  • Macroeconomics

Book details:

Edition Notes

Includes bibliographical references and index.

Statementedited by Philip Arestis and Malcolm Sawyer.
SeriesInternational papers in political economy
ContributionsArestis, Philip, 1941-, Sawyer, Malcolm C.
Classifications
LC ClassificationsHB97.3 .P38 2009
The Physical Object
Paginationp. cm.
ID Numbers
Open LibraryOL24117515M
ISBN 109780230236004
LC Control Number2009042549

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This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume examines how path dependency is linked with notions of fundamental uncertainty, non-ergodicity and hysteresis. The implications of the notion of path dependency for macro-economic analysis are discussed in terms of the interrelationship between aggregate demand and supply potential and the availability of future resources. This book offers detailed analysis and informed comment on the real economic issues involved in path dependency and macroeconomics. This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume examines how path dependency is linked with notions of . Get this from a library! Path dependency and macroeconomics. [Philip Arestis; Malcolm C Sawyer;] -- "This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume.

Path Dependency and Macroeconomics (International Papers in Political Economy) [P. Arestis, Malcolm Sawyer] on *FREE* shipping on qualifying offers. This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume examines how .   Path Dependency and Macroeconomics. Edited by Philip Arestis and Malcolm Sawyer. Palgrave Macmillan, London, pp., $ ISBN: This collection of essays provides an in-depth analysis of a key economic issue and makes an important contribution to the development of the notion of path : Matías Vernengo. This chapter explores the meaning and application of concepts of path dependency in macrodynamics, with a particular focus on hysteresis. It is argued that hysteresis is a particular type of (rather than a synonym for) path dependency, and that the concept emerges from features of the adjustment dynamics of economic systems, rather than the Cited by: Path dependency in macroeconomic analysis is then discussed in relation to the relationship between aggregate demand and supply, labour market, inflation barrier, investment and the capital stock, technological change and demand and supply in economic by:

The contrast is drawn between these notions of path dependency, which have featured in the heterodox macroeconomics literature with the path independency of mainstream macroeconomics to . Path dependence explains how the set of decisions people face for any given circumstance is limited by the decisions they have made in the past or by the events that they experienced, even though past circumstances may no longer be relevant.. In economics and the social sciences, path dependence can refer either to outcomes at a single moment in time, or to long-run . Downloadable (with restrictions)! The paper argues that macroeconomic analysis has to be based on path dependency which is treated as a broader concept than hysteresis. The ways in which path dependency necessarily arises in the context of the dual role of investment on demand and capacity formation are next considered. The effects of demand on the path of the economy are . Corrections. All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:easeco:vyipSee general information about how to correct material in RePEc.. For technical questions regarding this item, or to correct its .