Unemployment persistence in EU countries: new evidence using bounded unit root tests
Claudiu Albulescu () and
Aviral Tiwari ()
Applied Economics Letters, 2018, vol. 25, issue 12, 807-810
We apply a series of bounded unit root tests to revisit the unemployment persistence in eight European Union (EU) countries. We find strong evidence in favour of the hysteresis hypothesis in all the cases. This result can be explained by a reduced labour mobility, a decreasing wage inflation and a high uncertainty regarding the future level of unemployment in the EU countries.
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