Hysteresis and the European Unemployment Problem Revisited

Released on by Jordi Galí
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  • Hysteresis and the European Unemployment Problem Revisited Book Detail

  • Author : Jordi Galí
  • Release Date : 2015
  • Publisher :
  • Genre : Economics
  • Pages : 38
  • ISBN 13 :
  • File Size : 71,71 MB
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Hysteresis and the European Unemployment Problem Revisited by Jordi Galí PDF Summary

Book Description: The unemployment rate in the euro area appears to contain a significant nonstationary component, suggesting that some shocks have permanent effects on that variable. I explore possible sources of this nonstationarity through the lens of a New Keynesian model with unemployment, and assess their empirical relevance.

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Hysteresis in Unemployment Revisited

Hysteresis in Unemployment Revisited

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This paper applies the panel LM unit root tests with heterogeneous structural breaks in level by Im"et al. (Oxford Bulletin of Economics and Statistics, 67 (200