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Hysteresis and the Sources of Shocks : A Cross-Country Analysis

Author

Listed:
  • Balmaseda, M
  • Dolado, J-J
  • Lopez-Salido, D

Abstract

This paper uses a long-run identifying restrictions on a three-variable system containing output growth, real wage growth and the unemployment rate, to isolate three "structural" shocks which drove business cycle fluctuations in a sample of 16 OECD countries during 1950-94.

Suggested Citation

  • Balmaseda, M & Dolado, J-J & Lopez-Salido, D, 1996. "Hysteresis and the Sources of Shocks : A Cross-Country Analysis," Papers 9614, Centro de Estudios Monetarios Y Financieros-.
    • Handle: RePEc:fth:cemfdt:9614
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    Cited by:

    1. Gianni Amisano & Massimiliano Serati, 2003. "Unemployment persistence in Italy. An econometric analysis with multivariate time varying parameter models," LIUC Papers in Economics 121, Cattaneo University (LIUC).
    2. Fabiani, Silvia & Rodriguez-Palenzuela, Diego, 2001. "Model-based indicators of labour market rigidity," Working Paper Series 57, European Central Bank.
    3. Fabiani, S. & Palenzuela-Rodriguez, D., 2001. "Model-Based Indicators of Labour Market Rigidity," Papers 57, Quebec a Montreal - Recherche en gestion.

    More about this item

    Keywords

    ECONOMIC GROWTH; WAGES; BUSINESS CYCLES; EXPORTS; EMPLOYMENT;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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