In this paper, we analyze the impact of several labor reforms in Spain on its equilibrium unemployment rate. To this end, we analyzed the behavior of the observed unemployment rate in Spain during the 1976-2012 period, thereby assessing whether that rate is better characterized as a hysteresis...

This paper applies univariate unit root tests to annual data of 26 countries to examine the stationary properties of hours worked over the period 1950-2010. To this end, both conventional unit root tests and recent unit root tests allowing for structural breaks and nonlinearities in data...

The aim of this paper is to develop a unit root test that takes into account two sources of nonlinearites in data, i.e. asymmetric speed of mean reversion and structural changes. The asymmetric speed of mean reversion is modeled by means of a exponential smooth transition autoregression (ESTAR)...

The well-known lack of power of unit root tests has often been attributed to the short length of macroeconomic variables and also to DGP’s that depart from the I(1)-I(0) alternatives. This paper shows that by using long spans of annual real GNP and GNP per capita (133 years) high power can be...

We analyze the empirical effects of different measures of labor standards on the export performance of the United States using annual data for the period 1950-1998, applying a time series approach based on the structural change literature. Hence, we estimate a model with endogenous breaks...

El presente artículo ofrece una panorámica de los contrastes específicos de raíz unitaria en presencia de cambio estructural propuestos en la literatura, que pretende servir de guía práctica para el investigador que necesite hacer uso de este tipo de técnicas. Estos contrastes contribuyen...

The aim of this article is to provide additional evidence on the fulfilment of the Purchasing Power Parity (PPP) hypothesis in the so-called Mediterranean countries. In order to test for the empirical validity of such a hypothesis, we have applied two types of unit root tests. The first group is...