We investigate hysteresis and persistence behaviour in the course of unemployment in EU countries and US states by …. Hysteresis in EU unemployment is attributed to the idiosyncratic, but not to the common component. In contrast, idiosyncratic … components are stationary in the US. If hysteresis behaviour is also relevant here, it is more likely to arise in the common …

in others and not changing in a minority of cases. On the whole, our results support the hysteresis hypothesis for the …

so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …-teractions with structural shocks and other institutions as crucial determinantsof hysteresis. …

so that our identification is not affected by the Faust andLeeper (1997) critique. We find widespread hysteresis: demand …-teractions with structural shocks and other institutions as crucial determinantsof hysteresis. …

benchmarked against the EU. In part of the paper, we work with the concept of linear "Hysteresis" as described by the presence of …

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 …

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 …