Centurial evidence of breaks in the persistence of unemployment

Atanu Ghoshray, Michalis P. Stamatogiannis

Research output: Contribution to journalArticle

5 Citations (Scopus)
140 Downloads (Pure)

Abstract

A novel procedure is applied to test for switches between hysteresis and the natural rate theory over more than a century of UK and USA unemployment data. For both the countries we see a period conforming to hysteresis starting in the early 1920s for the UK and 1930 for USA.
Original languageEnglish
Pages (from-to)74-76
JournalEconomics Letters
DOIs
Publication statusPublished - Apr 2015

Keywords

  • unemployment
  • Hysteresis
  • unit root
  • Dynamic Persistence
  • persistence breaks

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