Author: | Song, F. Wu, Y. |
Title: | Hysteresis in unemployment: evidence from OECD countries |
Journal: | Quarterly Review of Economics and Finance
1998 : VOL. 38:2, p. 181-192 |
Index terms: | HYSTERESIS UNEMPLOYMENT OECD |
Language: | eng |
Abstract: | Existing studies using standard unit-root tests generally cannot reject the null hypothesis of a unit root in unemployment rates. These findings have been interpreted as support for the hysteresis hypothesis. In this paper, the authors analyze a panel of unemployment rates of 15 OECD countries by using a panel-based test. The test exploits the cross-section variations of the constituent series and is more powerful. |
SCIMA