Ahmed, M. Iqbal; Fidia Farah, Quazi; Pandey Kishan, Ruby - 2022
We investigate how the high and low volatile states of oil prices affect the unemployment rate in the U.S. economy. We … model the monthly unemployment rate data using a logistic smooth transition autoregressive process with allowing oil price … follows: First, the estimated LSTAR model shows that the unemployment rate rises more persistently in the long run when oil …