Labor-force participation rates and the informal value of unemployment rates: Evidence from disaggregated US data

The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment rates for sub-populations, such as prime-aged males.

MoreLess

Year of publication:	2010
Authors:	Gustavsson, Magnus ; Österholm, Pär
Publisher:	Uppsala : Uppsala University, Department of Economics
Subject:	Erwerbstätigkeit \| Arbeitslosigkeit \| Mean Reversion \| Unit Root Test \| USA \| Mean reversion \| Unit-root test

More details

Series:	Working Paper ; 2010:14
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	635763087 [GVK] hdl:10419/82602 [Handle] RePEc:hhs:uunewp:2010_014 [RePEc]
Classification:	C22 - Time-Series Models ; E24 - Employment; Unemployment; Wages ; J21 - Labor Force and Employment, Size, and Structure
Source:	EconStor

Persistent link: https://www.econbiz.de/10010321459