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Unemployment hysteresis, structural changes, non-linearities and fractional integration in European transition economies

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Author Info

  • Juan Carlos Cuestas

    ()
    (Department of Economics, The University of Sheffield)

  • Luis A. Gil-Alana

Abstract

In this paper we aim to analyse the dynamics of unemployment in a group of Central and Eastern European Countries (CEECs). The CEECs are of special importance for the future of the European Union, given that most of them have recently become member states, and labour flows have been seen to rise with their accession. By means of unit root tests incorporating structural changes and nonlinearities, as well as fractional integration, we find that the unemployment rates for the CEECs are mean reverting processes, which is consistent with the NAIRU hypothesis, although shocks tend to be highly persistent.

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File URL: http://www.shef.ac.uk/economics/research/serps/articles/2011_005.html
File Function: First version, 2011
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Bibliographic Info

Paper provided by The University of Sheffield, Department of Economics in its series Working Papers with number 2011005.

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Length: 37 pages
Date of creation: Feb 2011
Date of revision: Feb 2011
Handle: RePEc:shf:wpaper:2011005

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Related research

Keywords: Unemployment; NAIRU; hysteresis; unit roots; fractional integration;

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Cited by:
  1. Rui M. Pereira, 2014. "Okun's Law, Asymmetries and Regional Spillovers: Evidence from Virginia Metropolitan Statistical Areas and the District of Columbia," Working Papers 140, Department of Economics, College of William and Mary.
  2. Craigwell, Roland & Mathouraparsad, Sebastien & Maurin, Alain, 2011. "Unemployment hysteresis in the English-speaking Caribbean: evidence from non-linear models," MPRA Paper 33440, University Library of Munich, Germany.
  3. Rui M. Pereira, 2013. "Okun's Law across the Business Cycle and during the Great Recession: A Markov Switching Analysis," Working Papers 139, Department of Economics, College of William and Mary.

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