Unemployment Hysteresis in the US and the EU: a Panel Data Approach

Miguel Leon-Ledesma

Studies in Economics from School of Economics, University of Kent

Abstract: This paper applies the panel unit root test proposed by Im, Pesaran and Shin (1997) to test for unemployment hysteresis in the US states and the EU countries against the alternative of a natural rate. The results show that hysteresis for the EU and the natural rate for the US states are the most plausible hypotheses.

Keywords: Unemployment Hysteresis; Unit Roots; Panel Tests (search for similar items in EconPapers)
JEL-codes: C22 C23 E24 (search for similar items in EconPapers)
Date: 2000-06
New Economics Papers: this item is included in nep-lab and nep-ltv
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ukc:ukcedp:0006

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