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so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …-teractions with structural shocks and other institutions as crucial determinantsof hysteresis. …
Persistent link: https://www.econbiz.de/10011327831
This paper provides a review of the literature on unit roots and cointegration in panels where the time dimension (T), and the cross section dimension (N) are relatively large. It distinguishes between the first generation tests developed on the assumption of the cross section independence, and...
Persistent link: https://www.econbiz.de/10010295787
This paper provides a review of the literature on unit roots and cointegration in panels where the time dimension (T) and the cross section dimension (N) are relatively large. It distinguishes between the first generation tests developed on the assumption of the cross section independence, and...
Persistent link: https://www.econbiz.de/10010276171
hysteresis in five European countries: France, Italy, the Netherlands, Sweden and the United Kingdom. Unit root tests applied in … hysteresis in the five countries. Caution should therefore be made when applying the ADF–SB and FADF–SB tests …
Persistent link: https://www.econbiz.de/10014080991
This paper reviews recent developments in nonparametric identi.cation of mea- surement error models and their applications in applied microeconomics, in particular, in empirical industrial organization and labor economics. Measurement error models describe mappings from a latent distribution to...
Persistent link: https://www.econbiz.de/10010469057
This paper reviews recent developments in nonparametric identification of measurement error models and their applications in applied microeconomics, in particular, in empirical industrial organization and labor economics. Measurement error models describe mappings from a latent distribution to...
Persistent link: https://www.econbiz.de/10013029599
equilibrium paths. Hysteresis is viewed as the result of a selection between these different equilibrium paths. We use this model … of the 1970?s may have played a central role in generating hysteresis. …
Persistent link: https://www.econbiz.de/10010276428
This paper provides a model of social hysteresis whereby long, deep recessions demotivate workers and thereby lead them …
Persistent link: https://www.econbiz.de/10010319518
Dieser Aufsatz untersucht die Hypothese, dass der Grad an Arbeitsmarkthysterese in Folge einer Rezession von der Reaktion der Geldpolitik abhängt. Der Hysteresegrad wird in der empirischen Untersuchung durch die geldpolitische Reaktion und Standardvariablen für Arbeitsmarktinstitutionen in...
Persistent link: https://www.econbiz.de/10003772351
We construct a new Markov-switching unobserved components framework for the analysis of hysteresis effects. Our model … in German unemployment is fully explained by hysteresis. The Great Recession was well absorbed because both hysteresis … not evolve according to hysteresis, not even during the Great Recession. …
Persistent link: https://www.econbiz.de/10011372431