Centurial evidence of breaks in the persistence of unemployment

Atanu Ghoshray, Michalis P. Stamatogiannis

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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
Publication statusPublished - Apr 2015


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


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