Measuring Hysteresis in Unemployment Rates with Long Memory Models
نویسندگان
چکیده
We address the question of unemployment hysteresis within the context of ARFIMA models. Our results suggest that in the post-1973 era, hysteresis is considerably less of a stylized fact for the unemployment rates of key OECD economies. JEL Categories C22, E30 Please address all correspondence to: Philip Rothman, Department of Economics, Brewster * Building, East Carolina University, Greenville, NC 27858 USA, Phone: 919-328-6151, Fax: 919-3286743, Internet: [email protected].
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