
This fifth volume in the International Papers in Political Economy (IPPE) series focuses on the theme of path dependency and macroeconomics in terms of both theory and applications. The volume examines how path dependency is linked with notions of fundamental uncertainty, non-ergodicity...

Preface Path Dependence and Demand-Supply Interactions in Macroeconomic Analysis; P. Arestis & M. Sawyer Path Dependency, Hysteresis and Macrodynamics; M. Setterfield Involuntary Unemployment in a Path Dependent System: The Case of Strong Hysteresis; D. Lang Path Dependence,...