Does Unemployment Hysteresis Equal Employment Hysteresis?
Magnus Gustavsson () and
Pär Österholm ()
No 2006:15, Working Paper Series from Uppsala University, Department of Economics
This paper investigates if conclusions regarding labour market hysteresis differ depending on whether employment or unemployment rates are studied. Applying a range of unit-root tests to monthly data from Australia, Austria, Canada, Finland, Sweden, the U.K. and the U.S., we find results for employment rates that contrast those based on unemployment rates. In particular, rather than the mixed evidence for hysteresis found using unemployment rates, employment rates result in unequivocal evidence of hysteresis in Australia, Canada and the U.S.. These findings cast doubt on previous conclusions in the literature.
Keywords: Labour market; Persistence; Unit root test (search for similar items in EconPapers)
JEL-codes: C22 E24 J21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-lab and nep-mac
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Published in Economic Record, 2007, pages 159-173.
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:uunewp:2006_015
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