Hysteresis in the normal rate of capacity utilization: A behavioral explanation

2020 ◽  
Vol 71 (4) ◽  
pp. 898-919
Author(s):  
Mark Setterfield ◽  
Joana David Avritzer



Author(s):  
Mark Setterfield

AbstractThis reply to Botte (2019, Estimating normal rates of capacity utilization and their tolerable ranges: a comment on Mark Setterfield, Cambridge Journal of Economics, forthcoming) responds to criticisms of the methods used to estimate the normal rate of capacity utilisation and a tolerable interval of variation in the actual rate of capacity utilisation around the normal rate in Setterfield (2019a, Long-run variation in capacity utilization in the presence of a fixed normal rate, Cambridge Journal of Economics, vol. 43, no. 2, 443–63). It concludes with some further reflections on the concept of corridor instability.



2013 ◽  
Vol 64 (3) ◽  
pp. 513-538 ◽  
Author(s):  
Michalis Nikiforos


2010 ◽  
Vol 63 (1) ◽  
pp. 139-169 ◽  
Author(s):  
Eckhard Hein ◽  
Marc Lavoie ◽  
Till van Treeck




2019 ◽  
Author(s):  
Mark Setterfield ◽  
Joana David Avritzer




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