Testing for hysteresis in unemployment in OECD countries. New evidence using stationarity panel tests with breaks

Mariam Camarero, Josep Carrion-i-Silvestre and Cecilio Tamarit

No 119, Working Papers in Economics from Universitat de Barcelona. Espai de Recerca en Economia

Abstract: This paper tests hysteresis effects in unemployment using panel data for 19 OECD countries covering the period 1956-2001. The tests exploit the cross-section variations of the series, and additionally, allow for a different number of endogenous breakpoints in the unemployment series. The critical values are simulated based on our specic panel sizes and time periods. The ndings stress the importance of accounting for exogenous shocks in the series and give support to the natural-rate hypothesis of unemployment for the majority of the countries analyzed.

JEL-codes: C22 C23 J64 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2004
New Economics Papers: this item is included in nep-ecm, nep-eec, nep-ets and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Testing for Hysteresis in Unemployment in OECD Countries: New Evidence using Stationarity Panel Tests with Breaks* (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:bar:bedcje:2004119

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