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Persistence in U.S. State Unemployment Rates: Errata and Extensions

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  • Peter S. Sephton

Abstract

Using panel unit root tests allowing for breaking deterministics, found that many U.S. state unemployment rates were stationary, a result at odds with the traditional view that unemployment rates are path‐dependent and subject to shocks that have permanent effects. extended the analysis to directly examine whether the series were fractionally integrated and reported that models with two breaks‐in‐mean do suggest many state unemployment rates were mean‐reverting. The purpose of this note is to correct an error contained in , which when modified, indicates that state unemployment rates were non‐stationary processes well‐characterized by hysteresis.

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  • Peter S. Sephton, 2012. "Persistence in U.S. State Unemployment Rates: Errata and Extensions," Southern Economic Journal, John Wiley & Sons, vol. 78(3), pages 1-9, January.
    • Handle: RePEc:wly:soecon:v:78:y:2012:i:3:p:e1-e9
    DOI: 10.4284/0038-4038-78.3.e1
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    References listed on IDEAS

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    1. Peter S. Sephton, 2009. "Persistence in U.S. State Unemployment Rates," Southern Economic Journal, John Wiley & Sons, vol. 76(2), pages 458-466, October.
    2. Kim, In-Moo, 1997. "Detecting the number of structural breaks," Economics Letters, Elsevier, vol. 57(2), pages 145-148, December.
    3. Peter S. Sephton, 2009. "Persistence in U.S. State Unemployment Rates," Southern Economic Journal, John Wiley & Sons, vol. 76(2), pages 458-466, October.
    4. Diego Romero-Avila & Carlos Usabiaga, 2007. "Unit root tests and persistence of unemployment: Spain vs. the United States," Applied Economics Letters, Taylor & Francis Journals, vol. 14(6), pages 457-461.
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    Cited by:

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    2. Cheng, Ka Ming, 2022. "Doubts on natural rate of unemployment: Evidence and policy implications," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 230-239.

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