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Is there Chaos on the German Labor Market? / Ist der deutsche Arbeitsmarkt chaotisch?

Michael Neugart ()

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1999, vol. 218, issue 5-6, 658-673

Abstract: Evidence on the role of chaotic and nonlinear dynamics on labor markets is mixed. It is unclear whether nonlinear relationships are responsible for the dynamic patterns observed in Europe during the past decades. In this paper, we test German labor market data for the null hypothesis of an i.i.d. process with the BDS test. As several processes including chaotic, nonlinear deterministic, and stochastic linear and nonlinear systems are nested within the alternative hypothesis, time series are whitened with linear and nonlinear filters. Lyapunov exponents and correlation dimensions are applied to the residuals of the filtered time series to test for chaotic dynamics. There seems to be a nonlinear deterministic core to German labor market dynamics. Chaos does not occur.

Keywords: German labor market; chaos; nonlinear dynamics; Arbeitsmarkt; Chaos; nichtlineare Dynamiken (search for similar items in EconPapers)
Date: 1999
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