Modelling the behaviour of unemployment rates in the US over time and across space
This paper provides evidence that unemployment rates across US states are stationary and therefore behave according to the natural rate hypothesis. We provide new insights by considering the effect of key variables on the speed of adjustment associated with unemployment shocks. A highly-dimensional...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2013
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- eng
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/22805
- Acceso en línea:
- https://doi.org/10.1016/j.physa.2013.07.023
https://repository.urosario.edu.co/handle/10336/22805
- Palabra clave:
- Half lives
Key variables
Market integration
Quantile regression
Unemployment
Unemployment rates
Var analysis
Employment
Population statistics
Market integration
Speed of adjustment
Unemployment
- Rights
- License
- Abierto (Texto Completo)
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eb727fd3-c31e-4a26-8c50-6f3fee0e65b3-15d0b120d-c27b-4e6f-9263-532c0ef0eef9-1792428146002020-05-25T23:58:07Z2020-05-25T23:58:07Z2013This paper provides evidence that unemployment rates across US states are stationary and therefore behave according to the natural rate hypothesis. We provide new insights by considering the effect of key variables on the speed of adjustment associated with unemployment shocks. A highly-dimensional VAR analysis of the half-lives associated with shocks to unemployment rates in pairs of states suggests that the distance between states and vacancy rates respectively exert a positive and negative influence. We find that higher homeownership rates do not lead to higher half-lives. When the symmetry assumption is relaxed through quantile regression, support for the Oswald hypothesis through a positive relationship between homeownership rates and half-lives is found at the higher quantiles. © 2013 Elsevier B.V. All rights reserved.application/pdfhttps://doi.org/10.1016/j.physa.2013.07.0233784371https://repository.urosario.edu.co/handle/10336/22805eng5722No. 225711Physica A: Statistical Mechanics and its ApplicationsVol. 392Physica A: Statistical Mechanics and its Applications, ISSN:3784371, Vol.392, No.22 (2013); pp. 5711-5722https://www.scopus.com/inward/record.uri?eid=2-s2.0-84883454196&doi=10.1016%2fj.physa.2013.07.023&partnerID=40&md5=198e45b559fefeef93f308c2c94126f3Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2instname:Universidad del Rosarioreponame:Repositorio Institucional EdocURHalf livesKey variablesMarket integrationQuantile regressionUnemploymentUnemployment ratesVar analysisEmploymentPopulation statisticsMarket integrationSpeed of adjustmentUnemploymentModelling the behaviour of unemployment rates in the US over time and across spacearticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Holmes, Mark J.Panagiotidis, TheodoreOtero Cardona, Jesús GilbertoORIGINAL1-s2-0-S037843711300633X-main.pdfapplication/pdf578780https://repository.urosario.edu.co/bitstreams/5ce5eb85-56fb-4429-8070-4f377347cd70/downloadc737a4914a77e3d45261c9354c311601MD51TEXT1-s2-0-S037843711300633X-main.pdf.txt1-s2-0-S037843711300633X-main.pdf.txtExtracted texttext/plain55403https://repository.urosario.edu.co/bitstreams/b150525b-e9a5-4876-8c1f-619d8bba80aa/downloada18f51f16d63b20974fbf3f5d60351edMD52THUMBNAIL1-s2-0-S037843711300633X-main.pdf.jpg1-s2-0-S037843711300633X-main.pdf.jpgGenerated Thumbnailimage/jpeg4186https://repository.urosario.edu.co/bitstreams/db20436a-45df-43e4-844d-f38a90e4cab7/downloadad20156f08fdb4697f4c2e74831035c8MD5310336/22805oai:repository.urosario.edu.co:10336/228052022-05-02 07:37:14.383977https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co |
dc.title.spa.fl_str_mv |
Modelling the behaviour of unemployment rates in the US over time and across space |
title |
Modelling the behaviour of unemployment rates in the US over time and across space |
spellingShingle |
Modelling the behaviour of unemployment rates in the US over time and across space Half lives Key variables Market integration Quantile regression Unemployment Unemployment rates Var analysis Employment Population statistics Market integration Speed of adjustment Unemployment |
title_short |
Modelling the behaviour of unemployment rates in the US over time and across space |
title_full |
Modelling the behaviour of unemployment rates in the US over time and across space |
title_fullStr |
Modelling the behaviour of unemployment rates in the US over time and across space |
title_full_unstemmed |
Modelling the behaviour of unemployment rates in the US over time and across space |
title_sort |
Modelling the behaviour of unemployment rates in the US over time and across space |
dc.subject.keyword.spa.fl_str_mv |
Half lives Key variables Market integration Quantile regression Unemployment Unemployment rates Var analysis Employment Population statistics Market integration Speed of adjustment Unemployment |
topic |
Half lives Key variables Market integration Quantile regression Unemployment Unemployment rates Var analysis Employment Population statistics Market integration Speed of adjustment Unemployment |
description |
This paper provides evidence that unemployment rates across US states are stationary and therefore behave according to the natural rate hypothesis. We provide new insights by considering the effect of key variables on the speed of adjustment associated with unemployment shocks. A highly-dimensional VAR analysis of the half-lives associated with shocks to unemployment rates in pairs of states suggests that the distance between states and vacancy rates respectively exert a positive and negative influence. We find that higher homeownership rates do not lead to higher half-lives. When the symmetry assumption is relaxed through quantile regression, support for the Oswald hypothesis through a positive relationship between homeownership rates and half-lives is found at the higher quantiles. © 2013 Elsevier B.V. All rights reserved. |
publishDate |
2013 |
dc.date.created.spa.fl_str_mv |
2013 |
dc.date.accessioned.none.fl_str_mv |
2020-05-25T23:58:07Z |
dc.date.available.none.fl_str_mv |
2020-05-25T23:58:07Z |
dc.type.eng.fl_str_mv |
article |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 |
dc.type.spa.spa.fl_str_mv |
Artículo |
dc.identifier.doi.none.fl_str_mv |
https://doi.org/10.1016/j.physa.2013.07.023 |
dc.identifier.issn.none.fl_str_mv |
3784371 |
dc.identifier.uri.none.fl_str_mv |
https://repository.urosario.edu.co/handle/10336/22805 |
url |
https://doi.org/10.1016/j.physa.2013.07.023 https://repository.urosario.edu.co/handle/10336/22805 |
identifier_str_mv |
3784371 |
dc.language.iso.spa.fl_str_mv |
eng |
language |
eng |
dc.relation.citationEndPage.none.fl_str_mv |
5722 |
dc.relation.citationIssue.none.fl_str_mv |
No. 22 |
dc.relation.citationStartPage.none.fl_str_mv |
5711 |
dc.relation.citationTitle.none.fl_str_mv |
Physica A: Statistical Mechanics and its Applications |
dc.relation.citationVolume.none.fl_str_mv |
Vol. 392 |
dc.relation.ispartof.spa.fl_str_mv |
Physica A: Statistical Mechanics and its Applications, ISSN:3784371, Vol.392, No.22 (2013); pp. 5711-5722 |
dc.relation.uri.spa.fl_str_mv |
https://www.scopus.com/inward/record.uri?eid=2-s2.0-84883454196&doi=10.1016%2fj.physa.2013.07.023&partnerID=40&md5=198e45b559fefeef93f308c2c94126f3 |
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http://purl.org/coar/access_right/c_abf2 |
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Abierto (Texto Completo) |
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Abierto (Texto Completo) http://purl.org/coar/access_right/c_abf2 |
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reponame:Repositorio Institucional EdocUR |
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