Revisiting Hysteresis in Unemployment for Ten European Countries : An Empirical Note on a More Powerful Nonlinear(LOGISTIC) Unit Root
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In this empirical note we use a more powerful nonlinear (logistic) unit root test advanced by Leybourne et al. (1998) to investigate the hysteresis in unemployment for ten European countries for the period 1961-2003. The hypothesis is confirmed for all the European countries for which Leybourne et al.’s (1998) nonlinear (logistic) unit root test is performed, except for Belgium and the UK.
Abstract
In this empirical note we use a more powerful nonlinear (logistic) unit root test advanced by Leybourne et al. (1998) to investigate the hysteresis in unemployment for ten European countries for the period 1961-2003. The hypothesis is confirmed for all the European countries for which Leybourne et al.’s (1998) nonlinear (logistic) unit root test is performed, except for Belgium and the UK.
참고문헌 (8)
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- Leybourne, "Unit Roots and Smooth Transitions", (19), pp.83~97 (1998)
- Ng, "Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power", 69, pp.1519~1554 (2001)
- "Further Evidence on Breaking Trend Functions in Macroeconomic Variables", (80), pp.355~385 (1997)
- Roed, "Unemployment Hysteresis - Macro Evidence from 16 OECD Countries", (21), pp.589~600 (1996)