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This paper re-examines the stochastic time series behaviour of the monthly unemployment rate in 50 states of the United States (US) for the period 1976-2017 using a number of state-of-the-art unit root tests. The new developments incorporate structural break, nonlinearity, asymmetry, and...
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This paper explores the evidence for positive hysteresis in the labor market. Using data from the National Longitudinal …
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. Adjustment costs of changing benefits can introduce hysteresis in benefit setting and unemployment. Both (very) bad and good … feature of the model is that the mechanism yielding hysteresis (which requires a concave utility function) ceases to operate …
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