English, Article, Journal or magazine article edition: Testing for hysteresis in unemployment in OECD countries. New evidence using stationarity panel tests with breaks† Mariam Camarero; Josep Lluís Carrion-i-Silvestre; Cecilio Tamarit

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Bookmark: http://trove.nla.gov.au/version/160828
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Testing for hysteresis in unemployment in OECD countries. New evidence using stationarity panel tests with breaks†
Author
  • Mariam Camarero
  • Josep Lluís Carrion-i-Silvestre
  • Cecilio Tamarit
Physical Description
  • preprint
Notes
  • This paper tests hysteresis effects in unemployment using panel data for 19 OECD countries covering the period 1956-2001. The tests exploit the cross-section variations of the series, and additionally, allow for a different number of endogenous breakpoints in the unemployment series. The critical values are simulated based on our specific panel sizes and time periods. The findings stress the importance of accounting for exogenous shocks in the series and give support to the natural-rate hypothesis of unemployment for the majority of the countries analyzed.
  • RePEc:cea:doctra:e2004_40
Language
  • English
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