This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the … UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate …. Specifically, when taking a univariate approach, the unit root null cannot be rejected in case of the UK and Japanese unemployment …

is argued that in a cointegration framework it is reasonable to define hysteresis as the absence of weak exogeneity of …The view that high unemployment in West Germany and other European countries is caused by a path dependence effect - or … "hysteresis" effect - is quite popular among economists. However, because of an identification problem, much of the empirical …

This paper investigates the empirical relevance of different unemployment theories in three major economies, namely the … UK, the US and Japan, by estimating the degree of dependence in the unemployment series. Both univariate and multivariate …. Specifically, when taking a univariate approach, the unit root null cannot be rejected in case of the UK and Japanese unemployment …

sluggish. Job creation and job destruction are negatively correlated. And the volatility of unemployment is much larger than in …