Testing hysteresis effect in US state unemployment: new evidence using a nonlinear quantile unit root test

被引：15
|
作者：
Bahmani-Oskooee, Mohsen [1 ,2 ]
Chang, Tsangyao [3 ]
Ranjbar, Omid [4 ,5 ]
机构：
[1] Univ Wisconsin, Ctr Res Int Econ, Milwaukee, WI 53201 USA
[2] Univ Wisconsin, Dept Econ, Milwaukee, WI 53201 USA
[3] Feng Chia Univ, Dept Finance, Taichung, Taiwan
[4] Allameh Tabatabai Univ, Dept Econ, Tehran, Iran
[5] Trade Promot Org Iran, Tehran, Iran
来源：
APPLIED ECONOMICS LETTERS | 2018年 / 25卷 / 04期
关键词：
Nonlinear quantile unit root test; hysteresis; unemployment rate; United States;
D O I：
10.1080/13504851.2017.1316477
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We revisit hysteresis effect in the unemployment rate of each of the 52 states of the United States using nonlinear quantile unit root test over the period 1976M1-2016M7. Our results indicate that unemployment rate of the U.S. economy as a whole displays hysteresis effect over recessionary periods. Nineteen out of 52 states display hysteresis behaviour over the period 1976-2016. For the remaining 33 states, we find four types of behaviours. Some states display stationarity behaviour almost in all quantiles. Some display hysteresis over recessionary periods and in contrast some display hysteresis over expansion period.
引用
收藏
页码：249 / 253
页数：5
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