Does unemployment hysteresis falsify the natural rate hypothesis? a meta‐regression analysis

T. Stanley

Journal of Economic Surveys, 2004, vol. 18, issue 4, 589-612

Abstract: Abstract. A quantitative survey of 24 studies containing 99 national estimates of unemployment persistence reinstates unemployment hysteresis as a viable falsifying hypothesis to the natural rate hypothesis. Empirical evidence to the contrary may be attributed to small‐sample, misspecification and publication biases. Larger estimates of unemployment persistence are produced by models that use more information (t = 9.03; P

Date: 2004
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