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Article: Hysteresis in unemployment: Evidence from OECD countries

TitleHysteresis in unemployment: Evidence from OECD countries
Authors
Issue Date1998
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/qref
Citation
Quarterly Review Of Economics And Finance, 1998, v. 38 n. 2, p. 181-192 How to Cite?
AbstractExisting 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, we analyze a panel of unemployment rates of fifteen OECD countries by using a panel-based test. The test exploits the cross-section variations of the constituent series and is more powerful. The critical values are simulated based on our specific panel sizes and time periods. It is found that the null hypothesis of a unit root in unemployment rates can be rejected in general. This casts some doubt on the hysteresis hypothesis and provides limited support for the natural-rate hypothesis of unemployment for these countries.
Persistent Identifierhttp://hdl.handle.net/10722/177675
ISSN
1997 Impact Factor: 0.104
2015 SCImago Journal Rankings: 0.451
SSRN
References

 

DC FieldValueLanguage
dc.contributor.authorSong, FMen_US
dc.contributor.authorWu, Yen_US
dc.date.accessioned2012-12-19T09:39:30Z-
dc.date.available2012-12-19T09:39:30Z-
dc.date.issued1998en_US
dc.identifier.citationQuarterly Review Of Economics And Finance, 1998, v. 38 n. 2, p. 181-192en_US
dc.identifier.issn1062-9769en_US
dc.identifier.urihttp://hdl.handle.net/10722/177675-
dc.description.abstractExisting 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, we analyze a panel of unemployment rates of fifteen OECD countries by using a panel-based test. The test exploits the cross-section variations of the constituent series and is more powerful. The critical values are simulated based on our specific panel sizes and time periods. It is found that the null hypothesis of a unit root in unemployment rates can be rejected in general. This casts some doubt on the hysteresis hypothesis and provides limited support for the natural-rate hypothesis of unemployment for these countries.en_US
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/qrefen_US
dc.relation.ispartofQuarterly Review of Economics and Financeen_US
dc.titleHysteresis in unemployment: Evidence from OECD countriesen_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.scopuseid_2-s2.0-0032091203en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0032091203&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume38en_US
dc.identifier.issue2en_US
dc.identifier.spage181en_US
dc.identifier.epage192en_US
dc.publisher.placeNetherlandsen_US
dc.identifier.ssrn59668-
dc.identifier.scopusauthoridSong, FM=7203075605en_US
dc.identifier.scopusauthoridWu, Y=7406895405en_US

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