On the alternative explanations of persistence of unemployment in the OECD countries

Javid Taheri

Applied Economics, 2000, vol. 32, issue 8, 1051-1057

Abstract: This paper begins with a summary statement of a few relevant facts about the worsening state of unemployment since the mid-1970s in the OECD countries. A joint statistical test of the hypotheses of the natural rate, hysteresis, and the persistence is conducted by pooling annual data (1963-93) from up to 16 OECD countries. The results provide strong evidence in support of the persistence hypothesis and the non-linearity of the Phillips curve while concurrently rejecting the other two alternative explanations.

Date: 2000
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DOI: 10.1080/000368400322101

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