Paper on Macroeconomic Hysteresis by Mayergoyz Makes SSRN Top Ten List

A paper published on September 28 by Professor Isaak Mayergoyz and Dr. Can Korman (B.S. ‘85, M.S. ‘87, Ph.D. ‘90) titled, "Economic Hysteresis and its Modeling,” was recently listed on the Social Science Research Network (SSRN)'s Top Ten Download List. As of November 18, the paper has been viewed over 130 times and downloaded 30 times.

In the paper, hysteresis is treated as a history dependent branching. First, the use of the classical Preisach model for the analysis of macroeconomic hysteresis is discussed. Then, the researchers introduce a new Preisach-type model as a macroeconomic aggregation of more realistic microeconomic hysteresis than in the case of the classical Preisach model. It is demonstrated that this model is endowed with a more general mechanism of branching and may account for the continuous evolution of the economy and its effect on hysteresis. They show that the sluggishness of economic recovery is an intrinsic manifestation of hysteresis branching.

Professor Mayergoyz is a Distinguished University Professor and a Distinguished Scholar-Teacher of the University of Maryland. His research is based in electrophysics, spintronics, nonlinear magnetization dynamics in nanosystems, analysis of fluctuations in ultra small (nano) semiconductor devices, and mathematical modelling of hysteresis.

A Distinguished Alumni of the Electrical and Computer Engineering Department, Dr. Korman previously served as the Associate Dean for Research and Graduate Studies in the School of Engineering and Applied Science at George Washington University. While at UMD, Dr. Korman was advised by Professor Mayergoyz. His expertise is in the areas of micro-nano-electronics, micro-electro-mechanical systems (MEMS), sensors, semiconductor noise, magnetic recording and hysteresis. 

SSRN is an open access research platform used to share early-stage research, evolve ideas, measure results, and connect scholars around the world. SSRN represents disciplines across the full research spectrum, including the applied sciences, health sciences, humanities, life sciences, physical sciences, and social sciences. SSRN is a searchable online library that enables authors to post their papers and abstracts easily and free of charge.

Published November 18, 2021