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Starke Hysteresis auf dem Arbeitsmarkt
Belke, Ansgar | Göcke, Matthias
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 114 (1994), Iss. 3 : pp. 345–377
2 Citations (CrossRef)
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Article Details
Belke, Ansgar
Göcke, Matthias
Cited By
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Slow adjustment to shocks or true hysteresis?
Kösters, Wim | Belke, AnsgarIntereconomics, Vol. 31 (1996), Iss. 3 P.107
https://doi.org/10.1007/BF02930438 [Citations: 2] -
Europe in the Global Competition
Unemployment in Europe: Characteristics and Causes in an International Comparison
Kösters, Wim | Belke, Ansgar1997
https://doi.org/10.1007/978-3-663-10006-5_3 [Citations: 1]
Abstract
Strong Hysteresis in Labour Markets
This paper applies a system-theoretic model of hysteresis to the labour market. Our model shares a closer affinity to the original concept of magnetic hysteresis than conventional techniques to describe persistence effects via linear difference equations. The path dependence in the relation between real wages and employment is emphasised. Relatedly, we pay special attention to the question of aggregation: at the micro level, certain threshold values of the input variable have to be exceeded to produce shifts in the relation between wages and (un)employment; at the macro level, however, only small changes in the wage can yield long-lasting effects.