  Recent results on magnetoresistance in a two dimensional electron gas under
crossed magnetic and microwave fields show a new class of oscillations,
suggesting a new kind of zero-resistance states. A complete understanding of
the effect is still lacking. We consider the problem from the point of view of
the electronic structure dressed by photons due to a in plane linearly
polarized ac field. The dramatic changes in the dressed electronic structure
lead to a interpretation of the new magnetoresistance oscillations as a
persistent-current like effect, induced by the radiation field.
