Common smooth transition trend-stationarity in European unemployment
AbstractThis paper analyzes the hypothesis of hysteresis in Europe. The results are favorable to smooth transition trend-stationarity in European unemployment rates around highly persistent structural changes. In addition, we find evidence of a common force that generates this nonlinear behavior.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 101 (2008)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/ecolet
Unemployment European Union Unit root STAR model;
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