unemployment rates. These findings have been interpreted as support for the hysteresis hypothesis. In this paper, we analyze a … panel of unemployment rates of fifteen OECD countries by using a panel-based test. The test exploits the cross … and time periods. It is found that the null hypothesis of a unit root in unemployment rates can be rejected in general …

hysteresis embodying the idea that the equilibrium unemployment rate depends on the history of the actual unemployment rate. This …The recent European experience of high persistent unemployment has led to the development of theories of unemployment … paper summarizes two directions of research on hysteresis that appear especially promising. Membership theories are based on …

European unemployment has been steadily increasing for the last 15 years and isexpected to remain very high for many … years to come. In this paper, we argue thatthis fact implies that shocks have much more persistent effects on unemployment … and firms, shocks which affect actual unemployment tend also to affectequilibrium unemployment. We then confront the …

hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis … raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some … overview of leading theories of hysteresis and examines international and Canadian evidence from both microeconomic and …