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Hysteresis in Unemployment:Evidence from Latin America

  • 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.)

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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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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