Some Evidence On Hysteresis In Unemployment Rates

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Some Evidence On Hysteresis In Unemployment Rates

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Author : Albert Jaeger
language : en
Publisher:
Release Date : 1991

Some Evidence On Hysteresis In Unemployment Rates written by Albert Jaeger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Employment (Economic theory) categories.

Some Further Evidence On Hysteresis In Unemployment Rates

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Author : Bengt Assarsson
language : en
Publisher:
Release Date : 1995

Some Further Evidence On Hysteresis In Unemployment Rates written by Bengt Assarsson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.

Hysteresis Effects In Economic Models

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Author : Wolfgang Franz
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Hysteresis Effects In Economic Models written by Wolfgang Franz and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

This volume is devoted to the hysteresis phenomenon in economic relationships. This topic has received renewed attention in economics especially in the late eigh ties. Since the issue is not settled there is still a growing literature on it. The aim of this volume is to summarize the findings, present new results, and to draw attention to further research. All papers are written for this volume and are not published elsewhere. I am very grateful to all authors and referees without whose prompt and generous help this volume would not appear in the present form. A short summary of each paper is given in section 5 of the overview paper. Konstanz, January 1990 Wolfgang Franz University of Konstanz Contents Hysteresis in Economic Relationships: An Overview W. Franz . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Hysteresis in Trade R. Baldwin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Some Evidence on the Membership Hysteresis Hypothesis in Europe M. C. Burda . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Insider-Outsider Influences on Industry Wages D. T. Coe . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Testing for Hysteresis in Unemployment An Unobserved Components Approach A. Jaeger and M. Parkinson. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Unemployment and Deterioration of Human Capital J. Moller . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Hysteresis, Nairn and Long Term Unemployment in Austria P. Neudorfer, K. Pichelmann and M. Wagner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Hysteresis in Economic Relationships: An Overview l By W. Franz Can the socialist man be created so as not to show any hysteresis trace of his bourgois or peasant past? N. Georgescu-Roegen (l971. p. 126) 1 Introduction The hysteresis phenomenon has received renewed attention in economic science.

Persistence Of Unemployment

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Author : Stephen R.G. Jones
language : en
Publisher: McGill-Queen's Press - MQUP
Release Date : 1995-11-01

Persistence Of Unemployment written by Stephen R.G. Jones and has been published by McGill-Queen's Press - MQUP this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-11-01 with Business & Economics categories.

The deep recession and slow recovery of the Canadian economy in the 1980s and the lengthy recession of the early 1990s raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some economists to doubt the traditional view that the national economy is by nature self-correcting and to endorse the concept of hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis would have important and far-reaching implications for economic policy, particularly monetary policy. Jones provides an overview of leading theories of hysteresis and examines international and Canadian evidence from both microeconomic and macroeconomic perspectives. He extends the econometric analysis of hysteresis at both the micro and macro levels and concludes that while there is some evidence of dependence in Canada, the overall picture is not one of hysteresis.

Hysteresis In Labor Markets Evidence From Professional Long Term Forecasts

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Author : Mr.John C Bluedorn
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-23

Hysteresis In Labor Markets Evidence From Professional Long Term Forecasts written by Mr.John C Bluedorn and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-23 with Business & Economics categories.

We explore the long-term impact of economic booms on labor market outcomes using a novel approach based on revisions to professional forecasts over the past 30 years for 34 advanced economies. We find that when employment rises unexpectedly, forecasters typically raise their long-term forecasts of employment by more than one-for-one and also expect a strong rise in labor force participation, suggesting more persistent effects than is traditionally assumed. Economic booms associated with changes in aggregate demand, when inflation is rising and unemployment falling unexpectedly, also come with persistent long-term effects on expected employment and labor force participation, suggesting positive hysteresis. Our forecast evaluation tests indicate that forecasters are, on average, unbiased in their assessment of these positive, persistent effects.

Hysteresis In Unemployment

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Author : Frank M. Song
language : en
Publisher:
Release Date : 1998

Hysteresis In Unemployment written by Frank M. Song and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.

Existing studies using standard unit-root tests generally cannot reject the null hypothesis of a unit root in unemployment rates. These findings have been interpreted as support for the hysteresis hypothesis. In this paper, we analyze a panel of unemployment rates of fifteen OECD countries by using a panel-based test. The test exploits the cross-section variations of the constituent series and is more powerful. The critical values are simulated based on our specific panel sizes and time periods. It is found that the null hypothesis of a unit root in unemployment rates can be rejected in general. This casts some doubt on the hysteresis hypothesis and provides limited support for the natural-rate hypothesis of unemployment for these countries.

Hysteresis In The Australian Unemployment Rate

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Author : Leanne Taylor
language : en
Publisher:
Release Date : 1989

Hysteresis In The Australian Unemployment Rate written by Leanne Taylor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Hysteresis (Economics) categories.

Hysteresis In Unemployment

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Author : Laurence M. Ball
language : en
Publisher:
Release Date : 2009

Hysteresis In Unemployment written by Laurence M. Ball and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

This paper argues that hysteresis helps explain the long-run behavior of unemployment. The natural rate of unemployment is influenced by the path of actual unemployment, and hence by shifts in aggregate demand. I review past evidence for hysteresis effects and present new evidence for 20 developed countries. A central finding is that large increases in the natural rate are associated with disinflations, and large decreases with run-ups in inflation. These facts are consistent with hysteresis theories and inconsistent with theories in which the natural rate is independent of aggregate demand.

Hysteresis Effects In Economic Models

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Author : Wolfgang Franz
language : en
Publisher:
Release Date : 1990-07-13

Hysteresis Effects In Economic Models written by Wolfgang Franz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-07-13 with categories.

Hysteresis In Unemployment Revisited

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Author : Jun-De Lee
language : en
Publisher:
Release Date : 2009

Hysteresis In Unemployment Revisited written by Jun-De Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

This paper applies the panel LM unit root tests with heterogeneous structural breaks in level by Im"et al. (Oxford Bulletin of Economics and Statistics, 67 (2005), pp. 393-419) to re-examine the validity of hysteresis in the unemployment rates of 19 OECD countries. Our empirical findings are favourable to the stationarity of the unemployment rates, i.e., the unemployment hysteresis hypothesis is strongly rejected. Our results suggest that shocks to unemployment rates are temporary and soon converge when we control for breaks. A major policy implication of the study is that a fiscal or monetary stabilization policy would not have permanent effects on the unemployment rates of the 19 OECD countries.