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Testing for Hysteresis in Nordic Unemployment Using the Johansen Likelihood Ratio Test for Cointegration
Uppsala University, Humanistisk-samhällsvetenskapliga vetenskapsområdet, Faculty of Social Sciences, Department of Economics.
2004 (English)In: Applied Economics Quarterly, Vol. 50, no 3, 249-260 p.Article in journal (Refereed) Published
Abstract [en]

Whether shocks to unemployment in an economy are temporary or permanent will have implications for the design of labour market regulations, institutions and counteracting policy. The concept of unemployment hysteresis therefore becomes crucial when designing and implementing policy. This paper tests for the presence of unemployment hysteresis in the Nordic countries using the Johansen (1988) likelihood ratio test for cointegration as a panel unit root test. The results indicate that there is no unemployment hysteresis in any of the Nordic countries.

Place, publisher, year, edition, pages
2004. Vol. 50, no 3, 249-260 p.
Keyword [en]
Hysteresis, Unemployment, Panel unit root test
Identifiers
URN: urn:nbn:se:uu:diva-68309OAI: oai:DiVA.org:uu-68309DiVA: diva2:96220
Available from: 2005-03-03 Created: 2005-03-03 Last updated: 2011-01-12

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