Tracking Unemployment in Wales through Recession and into Recovery
AbstractThis paper assesses turning points in the economic cycle of Welsh unitary authorities by applying a mathematical algorithm to the claimant count unemployment data. All but one unitary authority has now emerged from recession (Anglesey being the exception). We also date the business cycle for the UK and country-level employment data and Wales has emerged from recession but Scotland is yet to exit recession. We estimate a logistic model which utilises housing sector and survey data to forecast the Welsh employment cycle. The model predicts that employment in Wales will continue to grow into 2011.
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Bibliographic InfoPaper provided by Spatial Economics Research Centre, LSE in its series SERC Discussion Papers with number 0079.
Date of creation: Apr 2011
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classical business cycles; forecasting;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-07-21 (All new papers)
- NEP-FOR-2011-07-21 (Forecasting)
- NEP-LAB-2011-07-21 (Labour Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Centre for Growth and Business Cycle Research Discussion Paper Series
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