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An empirical note on testing hysteresis in unemployment for ten European countries: panel SURADF approach

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Author Info
Tsangyao Chang
Kuei-Chiu Lee
Chien-Chung Nieh
Ching-Chun Wei
Abstract

The hysteresis hypothesis in unemployment for ten European countries are tested using newly developed Panel SURADF tests of Breuer et al . (2001) for the 1961--1999 period. While the other Panel-based unit root tests are joint tests of a unit root for all members of the panel and are incapable of determining the mix of I (0) and I (1) series in the panel setting, the Panel SURADF tests a separate unit-root null hypothesis for each individual panel member and, therefore identifies how many and which series in the panel are stationary processes. The hysteresis hypothesis is confirmed for all the European countries except Belgium and the Netherlands when Breuer et al .'s Panel SURADF tests are conducted.

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Article provided by Taylor and Francis Journals in its journal Applied Economics Letters.

Volume (Year): 12 (2005)
Issue (Month): 14 (November)
Pages: 881-886
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Handle: RePEc:taf:apeclt:v:12:y:2005:i:14:p:881-886

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  4. Pierre Perron & Robert J. Shiller, 1984. "Testing the Random Walk Hypothesis: Power Versus Frequency of Observation," Cowles Foundation Discussion Papers 732, Cowles Foundation, Yale University. [Downloadable!]
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  1. Gomes, F. A. R. & Silva, C. G., 2007. "Hysteresis vs. NAIRU and Convergence vs. Divergence: The behavior of regional unemployment rates in Brazil," Ibmec Working Papers wpe_71, Ibmec Working Paper, Ibmec São Paulo. [Downloadable!]
  2. Tuck Cheong Tang & Evan Lau, 2008. "An Empirical Investigation On The Sustainability Of Balancing Item Of Balance Of Payment Accounts For Oic Member Countries," Monash Economics Working Papers 31/08, Monash University, Department of Economics. [Downloadable!]
  3. Ahmad Zubaidi Baharumshah & Darja Borsic, 2008. "Purchasing power parity in Central and Eastern European countries," Economics Bulletin, Economics Bulletin, vol. 6(32), pages 1-8. [Downloadable!]
  4. Gomes, Fábio A. R. & Franchini, Douglas de S., 2008. "The Stationarity of Consumption–Income Ratios: Evidence from South American Countries," Ibmec Working Papers wpe_121, Ibmec Working Paper, Ibmec São Paulo. [Downloadable!]
  5. Kula, Ferit & Aslan, Alper, 2008. "Hysteresis vs. natural rate of unemployment: One, the other, or both?," MPRA Paper 14054, University Library of Munich, Germany. [Downloadable!]
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