We consider a piecewise linear two-dimensional dynamical system that couples a linear
equation with the so-called a hysteresis stop operator. Global dynamics and bifurcations of …

The slow recovery following the recent financial crisis in many developed countries, and the
predictable long lasting economic effects of the Covid-19 pandemic have raised a new …

The interest rate is an important monetary policy tool to steer investment to safeguard price
stability. Knowledge about the exact shape of the interest rate-investment nexus is thus …

We consider piecewise-linear, discrete-time, macroeconomic models that have a continuum
of feasible equilibrium states. The non-trivial equilibrium set and resulting path-dependence …

Recent empirical studies argue that the implementation of quality standards among
agriculturY al exporters has the character of a fixed cost. However, this can be misleading if …

The article analyses the hysteresis methods of analysis of economic systems. The causes
and consequences of hysteresis are considered. The spheres of hysteresis manifestation …

We analyze a simple macroeconomic model where rational inflation expectations are
replaced by a boundedly rational, and genuinely sticky, response to changes in the actual …

The transition from one economic equilibrium to another as a consequence of shocks is
often associated with sunk adjustment costs. Firm-specific sunk market entry investments (or …

The article analyses the hysteresis methods of analysis of economic systems. The causes
and consequences of hysteresis are considered. The spheres of hysteresis manifestation …

We consider piecewise-linear, discrete-time, macroeconomic models that have a continuum
of feasible equilibrium states. The non-trivial equilibrium set and resulting path-dependence …