Hysteresis

Tuesday, September 01, 2009

This recent article in the Financial Times discusses how the world recession may have severe long-term effects on the UK economy, exhibiting strong hysteresis effects.

Warnings of hysteresis for the EU economy

Thursday, July 02, 2009

by Geoff Riley

The recession and financial crisis may lead to a permanent loss in potential economic output and a slower trend rate of growth in the future according to a new study by the European Commission. The fall in potential GDP will be an example of hysteresis effects across the European economy and the cyclical downturn in output and jobs creates long term damage.

Revision: Consequences of Unemployment

Saturday, May 09, 2009

by Geoff Riley

High unemployment is widely recognised to create costs for individuals and for the economy as a whole. Some of these costs are difficult to value and measure, especially the longer-term social costs.

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