Hysteresis (economics)/Definition: Difference between revisions
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imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> The failure of an economic variable to return to its initial equilibrium after a temporary shock.) |
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The failure of an economic variable to return to its initial equilibrium after a temporary shock. | The failure of an economic variable to return to its initial equilibrium after a temporary shock, for example when productive capacity that becomes unemployed during a [[recession]] is not returned to employment when the recession is over. | ||
Latest revision as of 09:31, 5 November 2012
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Hysteresis (economics) [r]: The failure of an economic variable to return to its initial equilibrium after a temporary shock, for example when productive capacity that becomes unemployed during a recession is not returned to employment when the recession is over.