Centurial evidence of breaks in the persistence of unemployment

Centurial evidence of breaks in the persistence of unemployment

A novel procedure is applied to test for switches between hysteresis and the natural rate theory over more than a century of UK and USA unemployment data. For both the countries we see a period conforming to hysteresis starting in the early 1920s for the UK and 1930 for USA.

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Economics Letters 2015-04, p.74-76
Hauptverfasser: Ghoshray, Atanu, Stamatogiannis, Michalis P.
Format: Artikel
Sprache:eng
Schlagworte:
Dynamic Persistence
Hysteresis
persistence breaks
SDG 8 - Decent Work and Economic Growth
unemployment
unit root
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:A novel procedure is applied to test for switches between hysteresis and the natural rate theory over more than a century of UK and USA unemployment data. For both the countries we see a period conforming to hysteresis starting in the early 1920s for the UK and 1930 for USA.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2015.02.012