1. The failure of an economic variable to return to its initial equilibrium after a temporary shock. For example, an industry or trade flow might disappear due to an exchange rate change, then not reappear after the change is reversed.
2. A time lag between a cause and an effect. (Though this seems to be the more standard dictionary definition, economists seem to prefer definition 1.)
Related information about hysteresis:
- Hysteresis - Wikipedia, the free encyclopedia
Hysteresis is the dependence of a system not only on its current environment but also on its past environment. This dependence arises because the system can ...
- Hysteresis - Merriam-Webster Online
a retardation of an effect when the forces acting upon a body are changed (as if from viscosity or internal friction); especially : a lagging in the values of resulting ...
- hysteresis - definition of hysteresis by the Free Online Dictionary ...
hys·ter·e·sis (h s t -r s s). n. pl. hys·ter·e·ses (-s z). The lagging of an effect behind its cause, as when the change in magnetism of a body lags behind changes in ...
- Hysteresis in magnetic materials
Hysteresis. When a ferromagnetic material is magnetized in one direction, it will not relax back to zero magnetization when the imposed magnetizing field is ...
- hysteresis - Wiktionary
hysteresis. Definition from Wiktionary, the free dictionary. Jump to: navigation, search ... Wikipedia hysteresis (plural hystereses). A property of a system such that ...
- Hysteresis | Define Hysteresis at Dictionary.com
the lag in response exhibited by a body in reacting to changes in the forces, especially magnetic forces, affecting it. Compare magnetic hysteresis. 2.
- Hysteresis Loop
The Hysteresis Loop and Magnetic Properties. A great deal of information can be learned about the magnetic properties of a material by studying its hysteresis ...
- Introduction to Hysteresis
The mathematical theory of systems with hysteresis is an exiting new chapter of nonlinear analysis. While based on physical ideas, it also extends them to ...