Show simple item record

dc.contributor.authorHutton, Richard Shaneen_US
dc.date.accessioned2014-03-14T20:36:20Z
dc.date.available2014-03-14T20:36:20Z
dc.date.issued2009-05-08en_US
dc.identifier.otheretd-05112009-172919en_US
dc.identifier.urihttp://hdl.handle.net/10919/32595
dc.description.abstractA system with hysteresis is one that exhibits path dependent but rate independent memory. Hysteresis can be observed physically through the magnetization of a ferromagnetic material. In order to mathematically describe systems with hysteresis, we use the Preisach model. A discussion of the Preisach model is given as well as a method for computing the hysteretic transformation of an input variable. The focus of this paper is hysteresis in economics, namely, unemployment. We consider essential time series techniques for analyzing time series data, i.e. unit root testing for stationarity. However, we point out problems in modeling hysteresis with these techniques and argue that unit root tests cannot capture the selective memory of a system with hysteresis. For that, hysteresis in economic time series data is modeled using the Preisach model. We test the explanatory power of the previous unemployment rate on the current unemployment rate using both a hysteretic and non-hysteretic model. We find that the non-hysteretic model is better at explaining current unemployment rates, which suggests hysteresis is not present in the United States unemployment rate.en_US
dc.publisherVirginia Techen_US
dc.relation.haspartHuttonMastersThesis.pdfen_US
dc.rightsI hereby certify that, if appropriate, I have obtained and attached hereto a written permission statement from the owner(s) of each third party copyrighted matter to be included in my thesis, dissertation, or project report, allowing distribution as specified below. I certify that the version I submitted is the same as that approved by my advisory committee. I hereby grant to Virginia Tech or its agents the non-exclusive license to archive and make accessible, under the conditions specified below, my thesis, dissertation, or project report in whole or in part in all forms of media, now or hereafter known. I retain all other ownership rights to the copyright of the thesis, dissertation or project report. I also retain the right to use in future works (such as articles or books) all or part of this thesis, dissertation, or project report.en_US
dc.subjectHysteresisen_US
dc.subjectPreisach Modelen_US
dc.subjectStationarityen_US
dc.subjectUnit Rooten_US
dc.titleModeling the United States Unemployment Rate with the Preisach Model of Hysteresisen_US
dc.typeThesisen_US
dc.contributor.departmentMathematicsen_US
dc.description.degreeMaster of Scienceen_US
thesis.degree.nameMaster of Scienceen_US
thesis.degree.levelmastersen_US
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen_US
thesis.degree.disciplineMathematicsen_US
dc.contributor.committeechairRogers, Robert C.en_US
dc.contributor.committeememberFritz, Matthewen_US
dc.contributor.committeememberBorggaard, Jeffrey T.en_US
dc.identifier.sourceurlhttp://scholar.lib.vt.edu/theses/available/etd-05112009-172919/en_US
dc.date.sdate2009-05-11en_US
dc.date.rdate2009-05-29
dc.date.adate2009-05-29en_US


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record