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1

Hysteresis vs. Natural Rate of Unemployment: One, the Other, or Both?

100%
Kula F., Aslan A.
South East European Journal of Economics and Business
|
2010
|
vol. 5
|
issue 1
91-94
EN
This paper re-examines the empirical validity of the hysteresis hypothesis in unemployment rates by education level in 17 OECD countries. To this end, for an unbalanced panel, we employed Pesaran's Cross-Sectional Dependence (CD) and Cross-Sectionally Augmented ADF (CADF) tests. Our empirical findings provide evidence favorable to the non-stationarity of unemployment rates according to levels of primary and secondary education attainment in total unemployment, and therefore the existence of hysteresis for these levels of education. There is no evidence, however, of hysteresis for unemployment rates by tertiary education.
2

Is the Labour Force Participation Rate Non-Stationary in Romania?

63%
Tiwari A. K., Mutascu M.
Review of Economic Perspectives
|
2014
|
vol. 14
|
issue 4
411-426
EN
The purpose of this paper is to test hysteresis of the Romanian labour force participation rate, by using time series data, with quarterly frequency, covering the period 1999Q1-2013Q4. The main results reveal that the Romanian labour force participation rate is a nonlinear process and has a partial unit root (i.e. it is stationary in the first regime and non-stationary in the second one), the main breaking point being registered around year 2005. In this context, the value of using unemployment rate as an indicator for capturing joblessness in this country is debatable. Starting from 2005, the participation rate has not followed long-term changes in unemployment rate, the disturbances having permanent effects on labour force participation rate.
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