Testing for persistence in aggregate and sectoral Canadian unemployment
Persistence in aggregate and sectoral Canadian unemployment is tested for. Using the corrected for short-range dependency modified rescaled-range test, it is concluded that the fluctuations in aggregate and sectoral Canadian unemployment exhibit persistence. Policies aimed at reducing inflation should embody and account for the extra cost of sustained unemployment due to its persistence.
Volume (Year): 12 (2005)
Issue (Month): 14 ()
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- Fortin, Pierre, 1989. "How 'natural' is Canada's high unemployment rate?," European Economic Review, Elsevier, vol. 33(1), pages 89-110, January.
- Winter-Ebmer, Rudolf, 1991. "Some Micro Evidence on Unemployment Persistence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 53(1), pages 27-43, February.
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- Koustas, Z. & Veloce, W., 1994. "Unemployment Hysteresis in Canada: An Approach Based on Long-Memory Time Series Models," Working Papers 1994-5, Brock University, Department of Economics.
- Cochrane, John H, 1988. "How Big Is the Random Walk in GNP?," Journal of Political Economy, University of Chicago Press, vol. 96(5), pages 893-920, October.
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