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Hysteresis in Unemployment:Evidence from Latin America

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Author Info

  • Matias Mednik

    ()
    (Columbia University - School of International and Public Affairs.)

  • Cesar M. Rodriguez

    ()
    (Office of Evaluation and Oversight at the Interamerican Development Bank.)

  • Inder J. Ruprah

    ()
    (Office of Evaluation and Oversight at the Interamerican Development Bank.)

Abstract

This paper tests the hysteresis hypothesis in unemployment for 13 Latin American countries covering the period 1980-2005. The tests exploit the time series and the cross sectional variation of the series, and allows for cross section dependence and a different number of endogenously determined structural breakpoints. The findings give support to the hysteric dynamic hypothesis for the majority of the countries analyzed. The implications of the results have ramifications regarding macro-stabilization, structural reform, and the design of social safety protection.

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Bibliographic Info

Paper provided by Inter-American Development Bank, Office of Evaluation and Oversight (OVE) in its series OVE Working Papers with number 0408.

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Length: 24 pages
Date of creation: Mar 2008
Date of revision:
Handle: RePEc:idb:ovewps:0408

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Related research

Keywords: Unemployment hysteresis; unit root test; panel unit root test; cross-section dependence.;

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Cited by:
  1. Veronica González & Pablo Ibarrarán & Alessandro Maffioli & Sandra Rozo, 2009. "The Impact of Technology Adoption on Agricultural Productivity: The Case of the Dominican Republic," OVE Working Papers 0509, Inter-American Development Bank, Office of Evaluation and Oversight (OVE).
  2. Francisca Henriquez, 2009. "Microcrédito y su Impacto: Un Acercamiento con Datos Chilenos," OVE Working Papers 0309, Inter-American Development Bank, Office of Evaluation and Oversight (OVE).

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