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	Provedor de dados AgEcon (1) Autor Caporale, Guglielmo Maria (1) Gil-Alana, Luis A. (1) Palavra-chave Asymmetries (1) C32 (1) E32 (1) Fractional Integration (1) Labor and Human Capital (1) Long Memory (1) Nonlinearities (1) Persistence (1) Unemployment (1) Mais... Tipo do documento Working or Discussion Paper (1) Ano 2004 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última Non-Linearities and Fractional Integration in the US Unemployment Rate AgEcon Caporale, Guglielmo Maria; Gil-Alana, Luis A.. This paper proposes a model of the US unemployment rate which accounts for both its asymmetry and its long memory. Our approach, based on the tests of Robinson (1994), introduces fractional integration and nonlinearities simultaneously into the same framework (unlike earlier studies employing a sequential procedure), using a Lagrange Multiplier procedure with a standard limit distribution. The empirical results suggest that the US unemployment rate can be specified in terms of a fractionally integrated process, which interacts with some non-linear functions of the labour demand variables (real oil prices and real interest rates). We also find evidence of a long-memory component. Our results are consistent with a hysteresis model with path dependency rather... Tipo: Working or Discussion Paper Palavras-chave: Unemployment; Asymmetries; Nonlinearities; Fractional Integration; Persistence; Long Memory; Labor and Human Capital; C32; E32. Ano: 2004 URL: http://purl.umn.edu/26232 Registros recuperados: 1 Primeira ... 1 ... Última

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