A suggestion for a simple cross-country empirical proxy for trend unemployment

We propose a proxy for trend unemployment derived from the cointegration property between unemployment rates and world oil prices. Evidence from a sample of OECD countries is presented in support of the hypothesis. We argue that our empirical proxy is superior from an economic perspective to at least one popular empirical alternative and may be especially useful in cross-country type studies.

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Year of publication:	1999
Authors:	Murchison, Stephen ; Siklos, Pierre
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 6.1999, 7, p. 447-451
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009202851