English, Article edition: Population-Employment Models: Stationarity, Cointegration, and Dynamic Adjustment Gary L. Hunt

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Population-Employment Models: Stationarity, Cointegration, and Dynamic Adjustment
Author
  • Gary L. Hunt
Physical Description
  • article
Notes
  • Population and employment in the 50 United States are found to be non-stationary and cointegrated. Vector error correction &​lpar;VEC&​rpar; models exhibit dynamics with adjustment to shocks essentially completed in "30-35 years". This contrasts with adjustment periods between "one and two centuries" for non-stationary models specified in levels. These dynamic adjustment patterns support the hypothesis that relatively long adjustment periods and slow dynamics are probably the spurious results of using non-stationary levels of population and employment outside of a VEC model framework. Recommendations for modeling the population-employment relationship are offered based on the findings reported. Copyright Blackwell Publishers, 2006
  • RePEc:bla:jregsc:v:46:y:2006:i:2:p:205-244
Language
  • English
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