A theory of economic policy lock-in and lock-out via hysteresis: rethinking economists’ approach to economic policy
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DOI: 10.5018/economics-ejournal.ja.2017-18
Abstract: Abstract This paper uses hysteresis to develop the concept of policy lock-in and lock-out. Policy changes may near-irrevocably change the economy’s structure, thereby changing the distribution of wealth, income and power. That may lock-in policy… read more here.
Keywords: lock; policy; policy lock; lock lock ... See more keywords