We quantify the degree of persistence in unemployment rates of transition countries using a variety of methods … presence of unit roots in unemployment. Since this is potentially a narrow definition, we also take into account the existence … of structural breaks and non-linear dynamics in unemployment. Finally, we examine whether CEECsu0092 unemployment …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders … contractionary effect on output. The temporary growth slowdown translates into output hysteresis (permanently lower output and labor …

labor market and skill obsolescence from long-term unemployment. The model can account for key features of the Great … aggregate demand raises unemployment and the training costs associated with skill obsolescence. Lower employment hinders … contractionary effect on output. The temporary growth slowdown translates into output hysteresis (permanently lower output and labor …

findings and confirms hysteresis in all unemployment rates except for Asian economies/countries of Thailand and the Philippines. …The focus of our study is on determining whether unemployment rates in 8 New Industrialized Economies conform to the … natural rate hypothesis or the hysteresis hypothesis. To this end, we employ a variety of unit of unit root testing procedures …