Unemployment Persistence : The Hysteresis Assumption Revisited. A Nonlinear Unobserved Components Approach.

We extend the previous analysis of unemployment persistence led by Jaeger and Parkinson (1994) by introducing nonlinearities in order to fully take into account the three requirements of hysteresis. We let past cyclical unemployment rate to have an impact on the unemployment natural rate that depends on the regime of the economy.

MoreLess

Year of publication:	2000
Authors:	Karame, F.
Institutions:	Centre de recherche de mathématiques et économie mathématique (CERMSEM), Centre d'Économie de la Sorbonne
Subject:	UNEMPLOYMENT \| TIME SERIES \| LABOUR MARKET

More details

Series:	Papiers d'Economie Mathématique et Applications.
Type of publication:	Book / Working Paper
Notes:	29 pages
Classification:	C32 - Time-Series Models ; C51 - Model Construction and Estimation ; E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005663600