Path dependency and macroeconomics

Cover of: Path dependency and macroeconomics |

Published by Palgrave Macmillan in New York .

Written in English

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Subjects:

  • Evolutionary economics,
  • Hysteresis,
  • Macroeconomics

Edition Notes

Includes bibliographical references and index.

Book details

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

Download Path dependency and macroeconomics

ISBN: OCLC Number: Description: xi, pages: illustrations ; 23 cm. Contents: Path dependency and demand-supply interactions in macroeconomic analysis / Philip Arestis and Malcolm Sawyer --Path dependency, hysteresis and macrodynamics / Mark Setterfield --Involuntary unemployment in a path-dependent system:.

ISBN: OCLC Number: Description: xi, pages: illustrations ; 23 cm. Contents: 1. Path dependency and demand-supply interactions in macroeconomic analysis / Philip Arestis and Malcolm Sawyer Path dependency, hysteresis and macrodynamics / Mark Setterfield Involuntary unemployment in a path-dependent.

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: Path dependency and macroeconomics book 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 Path dependency and macroeconomics book 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. Abstract. The process of economic growth is often viewed as a dynamic and path-dependent one in which history matters, but the theories and models of economic growth normally invoke the concept of equilibrium, albeit, a dynamic one.

Recently there have been attempts to introduce path dependence into theories and models, including models of economic growth, which allow Cited by: Stephen E. Margolis and Stanley J. Liebowitz, "Path Dependence", New Palgrave Dictionary of Econmics and the Law, MacMillan, Tim Weitzel, Oliver Wendt, and Falk V.

Westarp, "Reconsidering Network Effect Theory" (pdf,8pp), in Proceedings of the 8th European Conference on Information Systems (ECIS ), pages   Path dependency is an idea that tries to explain the continued use of a product or practice based on historical preference or use.

This holds true Author: Caroline Banton. “Inequalities at the bottom of the US wage distribution have closely followed the evolution of thee minimum wage: the gap between the bottom 10 percent of the wage distribution and the overall average wage widened significantly in the s, then narrowed in the s, and finally increased again in the s.

Increasing Returns and Path Dependence in the Economy (Economics, Cognition, and Society) [Arthur, W. Brian] on *FREE* shipping on qualifying offers.

Increasing Returns and Path Dependence in the Economy (Economics, Cognition, and Society)Cited by: This book brings together Professor Arthurs pioneering article and provide a comprehensive presentation of his exciting vision of an economics that incorporates increasing returns.

After a decade of resistance from economists, these ideas are now being widely discussed and adopted, as Kenneth Arrow recounts in his foreword.

In fundamental ways they are changing our views 5/5(1). The process of economic growth is often viewed as a dynamic and path-dependent one in which history matters, but the theories and models of economic growth normally invoke the concept of Author: Amitava Krishna Dutt. 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 Cited by: 6. Proponents of the importance of path dependence have responded, in large part, by asserting that the interesting features of path dependence have little to do with the question of remediability.

David (, ) argued that the concept of third-degree path dependence proves incoherent upon close examination and that Liebowitz and Margolis had. Path dependency is the idea that decisions a state is faced with depend on past knowledge trajectory and decisions made, and are thus limited by the current competence base.

In other words, history matters for current decision-making situations an. 12 thoughts on “ Academic Path Dependency ” George Machen 26 January, at I saw your tweet, and had started to reply, “Foster and Catchings,” but I said to myself, naw, why bother, you’ll cover them, but they’re nowhere to be found.

Malcolm Sawyer continues in this chapter with considering the relationships between microeconomics, mesoeconomics and macroeconomics. Macroeconomic analysis has often been accused of lacking Author: Malcolm Sawyer. This book brings together Professor Arthur’s pioneering article and provide a comprehensive presentation of his exciting vision of an economics that incorporates increasing returns.

After a decade of resistance from economists, these ideas are now being widely discussed and adopted, as Kenneth Arrow recounts in his foreword.

Mahoney identifies two basic mechanisms that are associated with path dependency: First, some path-dependent investigators analyze self-reinforcing sequences characterized by the formation and long-term reproduction of a given institutional pattern.

() A second basic type of path-dependent analysis involves the study of reactive sequences. 'The editors are to be congratulated for assembling a volume with considerable thematic integrity. It should be required reading for all those interested in path dependence and represents a useful starting place for those who want to know what all the fuss is about.'--Mark Setterfield, Eastern Economic JournalFormat: Hardcover.

The book thus contributes to a growing trend in the scholarly literature focusing on the subnational level of armed conflict behavior.

Path dependency refers Author: Paul Pierson. The International Papers in Political Economy (IPPE) series explores the latest developments in political economy. Book Path Dependency and Macroeconomics.

Arestis, P. (Ed), Sawyer, M. (Ed) () This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in. Path dependency in macroeconomic analysis is then discussed in relation to the relationship between aggregate demand and supply, labour market, inflation barrier, investment and.

Path-dependency in decision making is clearly not unique to judge and jury decisions. Even in our everyday world of academia, numerous sequential decisions and evaluations are made: referee reports, editorial decisions, job Cited by: 1.

Path Dependency and Macroeconomics. Edited by Philip Arestis and Malcolm Sawyer. Palgrave Macmillan, London, pp., $ ISBN: Matías Vernengo University of Utah This collection of essays provides an in. of path dependence, but clear definitions are rare. In practice, usage tends to fluctuate between a broader and narrower conception.

In the broader version, path dependence refers to the causal relevance of preceding stages in a temporal sequence. William Sewell (, ), for instance, suggests path dependence means. On walmgate street in york, england, you can order kebabs or burgers from a restaurant with a storefront that is exactly one perch long, a property boundary and unit of measurement that survives from Viking times.

1 Its persistence hundreds of years and many generations later in the modern streetscape is a classic example of path dependence. While path dependence is Author: Jennifer Zelmer.

As a result, in the path-dependency-trade-story, diversification, rather than simple specialization and trade, is encouraged because diversification is an economic development strategy. Importantly, as is noted by the critiques provided above, diversification cannot be achieved by comparative advantage and a free trade : Erik Dean, Justin Elardo, Mitch Green, Benjamin Wilson, Sebastian Berger.

The path dependency theory, which analyzes the change capacity of institutions by taking into account their historic structures, allows analysis of this situation.

The path dependency to the Bismarckian system and the incomplete reforms of gerontological policies generate the coexistence and juxtaposition of institutional systems.

Book Description. Principles of Microeconomics: Scarcity and Social Provisioning takes a pluralistic approach to the standard topics of an introductory microeconomics course.

The text builds on the chiefly neoclassical material of the OpenStax Principles of Economics text, adding extensive content from heterodox economic by: Start studying Chapter 4.

Learn vocabulary, terms, and more with flashcards, games, and other study tools. Colour me a systems dynamics geek, but few concepts in commerce and economics fascinate me like path dependence and increasing returns.

A dense, impenetrable, but strangely rewarding read, I do not recommend this for anyone other than the most committed student of the topics/5(2).The concept of increasing returns has had a long but uneasy presence in economic analysis.

The opening chapters of Adam Smith’sWealth of Nationsput great emphasis on increasing returns to explain both specialization and economic the object of study moves quickly to a competitive system and a cost-of-production theory of value, which cannot be made rigorous.

Path Dependency and Macroeconomics The International Papers in Political Economy (IPPE) series explores the latest developments in political economy.

This fifth volume focuses on the theme of path dependency and macroeconomics in terms of Pages:

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