This paper estimates an unobserved components model to explore coal consumption in the USA. We ask whether coal consumption exhibits hysteresis, defined as a dynamic structure in which the cyclical component of coal consumption has permanent effects on the natural component. In contrast to...

An often applied labour market policy to combat unemployment is to stimulate unemployed individuals to start their own businesses. Such policy may at least, temporarily lead to increases in self-employment, in particular, in the number of own-account workers. These policies may be called...

quarter of 2012, almost three percentage points higher than one year earlier and almost 12 percentage points higher than at the end of 2008. Although the exponential growth of Spanish unemployment is mainly caused by a lower demand for labor, there is also a second cause, viz. an increased...

This paper provides estimates of the elasticity of substitution between operational and managerial jobs in the US economy during the years 1969- 2011. Estimating the long-term relationship between the aggregate employment/self-employment ratio and the returns from paid-employment relative to...

This paper estimates an unobserved components model to explore the macro dynamics of entrepreneurship in Spain and the US. We ask whether entrepreneurship exhibits hysteresis, defined as a macro dynamic structure in which cyclical fluctuations have persistent effects on the natural rate of...

We explore the macrostructure of entrepreneurship rates in a panel of 23 OECD countries over 1972--2006. We find that rates of entrepreneurship in OECD countries exhibit persistence rather than hysteresis. Implications for the design of entrepreneurship policies are discussed.

Over the last decade, Spain created more jobs than any other country in Europe; however, now it is destroying them at an equal pace. Nevertheless, the relationship between the level of employment and the level of self-employment has remained relatively stable. In this context, there is a...

This article re-examines the persistence in natural gas consumption using an alternative methodology. In particular we report estimates of an unobserved components model, in which hysteresis exists if cyclical and natural gas consumptions do not evolve independently. In addition, this framework...

Spain is destroying more jobs than any other European country. In the third quarter of 2009, the unemployment rate stood at 17.9%, the second-highest rate in the 27-nation EU and the highest rate in the euro area (EA-16). The exponential growth of the Spanish unemployment rate is the by-product...

This paper provides estimates of the elasticity of substitution between operational and managerial jobs in the US economy during the years 1969-2011, derived from an aggregate CES production function. Estimating the long-term relationship between (the log of) the aggregate...