Changes in the Swedish wage structure from 1992 to 2001 are investigated and placed in a longer-term perspective. The results show that the increase in overall wage dispersion that began in the early 1980s have continued during the 1990s, and that the increase during the 1990s is driven by...

This study tests whether there is evidence of mean reversion in unemployment rates using the recently developed unit root test of Kapetanios et al. (2003). In this framework, the null hypothesis of a unit root process is tested against the alternative of a globally stationary exponential smooth...

This article investigates whether the US unemployment rate is best described as a unit-root or mean-reverting process. An out-of-sample forecast exercise is conducted in which the performance of an autoregressive (AR) model with an imposed unit root is compared with that of a mean-reverting AR...