unemployment, several European economies display highly persistent unemployment dynamics. The theory of hysteresis challenges this … strong empirical evidence of unemployment hysteresis in advanced economies since the 1990s. Relying on an identification … unemployment rates to pre-shock levels. …

This paper applies the panel unit root test proposed by Im, Pesaran and Shin (1997) to test for unemployment hysteresis … in the US states and the EU countries against the alternative of a natural rate. The results show that hysteresis for the …

system and the current managed float. Panel integration techniques are used to increase the power of the tests. Cross section … interest parity ; nominal exchange rate regime ; panel unit roots ; common factors …

system and the current managed float. Panel integration techniques are applied to increase the power of the tests, where …

system and the current managed float. Panel integration techniques are used to increase the power of the tests. Cross section …

system and the current managed float. Panel integration techniques are applied to increase the power of the tests, where …