Modelling the Persistence of Unemployment in Canada
The persistence of unemployment in Canada is examined in this article by means of fractionally integrated techniques. Using Sowell's (1992) procedure of estimating ARFIMA models by maximum likelihood along with other techniques, we show that the order of integration of the series is higher than one, implying that unemployment is a highly persistent variable.
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Volume (Year): 16 (2002)
Issue (Month): 4 ()
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