Introduction to hysteresis-based unemployment research Cover Image

Przyczynek do badań histerezy bezrobocia
Introduction to hysteresis-based unemployment research

Author(s): Krystyna Melich-Iwanek
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: HYSTERESIS; BROCK DURLAUF MODEL; GOODWIN MODEL

Summary/Abstract: In the last decades of the 20th century highly developed European labor markets experienced processes which could not be adequately explained with contemporary economi¬cal theories. Therefore a new concept emerged, focused on looking for the causes of the phe¬nomena observed in labor markets in the inert character of economic processes. Eventually, the hysteresis theory was formulated. The article contains results of correlation analysis be¬tween the unemployment rate and inflation rate in Poland, in the years 1990-2010. During research, it was assumed that due to hysteresis the trajectory of their relation has a shape re¬sembling an ellipse. In order to prove that the Polish labor market experiences hysteresis, Z. Hellwig’s nonlinear correlation coefficient was used.

  • Issue Year: 2011
  • Issue No: 165
  • Page Range: 86-93
  • Page Count: 8
  • Language: Polish
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