The Estimation Of The Nairu And The Effect Of Permanent Sectoral Employment Reallocation. The Italian Evidence
AbstractThis paper analyses the NAIRU making use of a cointegrated VAR and of Italian labour market data. We show that a cointegrated VAR represents a statistically adequate (using Aris Spanos's terminology) approach to the estimation of the NAIRU. This is an effective way to overcome several problems affecting standard structural approach. In particular the paper investigates whether permanent employment shift across Italian industrial sector [measured by the Neumann and Topel (1991)'s employment-based dispersion index] has an effect on unemployment. Among the findings of this paper we emphasize that sectoral employment shifts affect unemployment both in the long- and in the short-term. Moreover, we find that the effect of sectoral reallocation on the unemployment rate occurs only after some delay.
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Bibliographic InfoPaper provided by D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy in its series Working Papers with number 7_2002.
Length: 40 pages
Date of creation: Jun 2002
Date of revision:
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Web page: http://economia.uniparthenope.it/ise/sito/index.htm
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Other versions of this item:
- Vincenzo Di Maro, 2002. "The Estimation of the NAIRU and the Effect of Permanent Sectoral Employment Reallocation. The Italian Evidence," Econometrics 0207001, EconWPA.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- J60 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - General
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