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Article: Hysteresis in unemployment: Evidence from 48 U.S. States

TitleHysteresis in unemployment: Evidence from 48 U.S. States
Authors
Issue Date1997
PublisherWiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.wiley.com/bw/journal.asp?ref=0095-2583
Citation
Economic Inquiry, 1997, v. 35 n. 2, p. 235-243 How to Cite?
AbstractStudies using standard unit-root tests generally cannot reject the hypothesis of a unit root in unemployment rates. These findings have been interpreted as supporting the hysteresis hypothesis. We demonstrate that the failure to reject the null may be due to the low power of the tests. We analyze unemployment rates of 48 U.S. contiguous states using a more powerful panel-based test which exploits cross-section restrictions on the constituent series. The critical values are simulated tailored to our sample size. We reject the null decisively, casting some doubt on the hysteresis hypothesis for the United States. (JEL E2, E0).
Persistent Identifierhttp://hdl.handle.net/10722/177673
ISSN
2015 Impact Factor: 1.091
2015 SCImago Journal Rankings: 1.150
References

 

DC FieldValueLanguage
dc.contributor.authorSong, FMen_US
dc.contributor.authorWu, Yen_US
dc.date.accessioned2012-12-19T09:39:29Z-
dc.date.available2012-12-19T09:39:29Z-
dc.date.issued1997en_US
dc.identifier.citationEconomic Inquiry, 1997, v. 35 n. 2, p. 235-243en_US
dc.identifier.issn0095-2583en_US
dc.identifier.urihttp://hdl.handle.net/10722/177673-
dc.description.abstractStudies using standard unit-root tests generally cannot reject the hypothesis of a unit root in unemployment rates. These findings have been interpreted as supporting the hysteresis hypothesis. We demonstrate that the failure to reject the null may be due to the low power of the tests. We analyze unemployment rates of 48 U.S. contiguous states using a more powerful panel-based test which exploits cross-section restrictions on the constituent series. The critical values are simulated tailored to our sample size. We reject the null decisively, casting some doubt on the hysteresis hypothesis for the United States. (JEL E2, E0).en_US
dc.languageengen_US
dc.publisherWiley-Blackwell Publishing, Inc.. The Journal's web site is located at http://www.wiley.com/bw/journal.asp?ref=0095-2583en_US
dc.relation.ispartofEconomic Inquiryen_US
dc.titleHysteresis in unemployment: Evidence from 48 U.S. Statesen_US
dc.typeArticleen_US
dc.identifier.emailSong, FM: fmsong@hkucc.hku.hken_US
dc.identifier.authoritySong, FM=rp01095en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1111/j.1465-7295.1997.tb01906.x-
dc.identifier.scopuseid_2-s2.0-0031495481en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0031495481&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume35en_US
dc.identifier.issue2en_US
dc.identifier.spage235en_US
dc.identifier.epage243en_US
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridSong, FM=7203075605en_US
dc.identifier.scopusauthoridWu, Y=7406895405en_US

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