Unemployment Persistence: The Hysteresis Assumption Revisited. A Nonlinear Unobserved Components Approach

Frédéric Karamé

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: We extend the previous analysis of unemployment persistence led by Jaeger and Parkinson (1994) by introducing nonlinearities in order to fully take into account the three requirements of hysteresis. We let past cyclical unemployment rate to have an impact on the unemployment natural rate that depends on the regime of the economy.

Keywords: UNEMPLOYMENT; TIME SERIES; LABOUR MARKET (search for similar items in EconPapers)
JEL-codes: C32 C51 E24 E32 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.21

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