This paper re-examines the stochastic time series behaviour of the monthly unemployment rate in 50 states of the United … structural break, nonlinearity, asymmetry, and cross-sectional correlation within panel-data estimation including the use of a … sequential panel selection method. While not previously considered, sequential panel selection enabled us to determine and …

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 …

rates are integrated of order one, one would expect to find three linearly independent cointegration relations in the system … series we find indeed the theoretically expected three cointegration relations, in contrast to previous studies based on … ; cointegration analysis …