Testing the hysteresis effect in the US state-level unemployment series

References

• Arestis, P., & Mariscal, I. (1999). Unit roots and structural breaks in OECD unemployment. Economics Letters, 65, 149–156.
   Web of Science ®Google Scholar
• Arestis., P., & Mariscal., I. (2000). OECD unemployment: Structural breaks and stationary. Applied Economics, 32, 399–403.
   Web of Science ®Google Scholar
• Bahmani-Oskooee, M., Chang, T., & Ranjbar, O. (2017). Testing hysteresis effect in U.S. state unemployment: New evidence using a nonlinear quantile unit root test. Applied Economics Letters, 25(4), 249–253.
   Web of Science ®Google Scholar
• Bahmani-Oskooee, M., Chang, T., & Ranjbar, O. (2018). Testing hysteresis effect in U.S. state unemployment: New evidence using a nonlinear quantile unit root test. Applied Economics Letters, 25(4), 249–253.
   Web of Science ®Google Scholar
• Becker., R., Enders, W., & Lee, J. (2004). A general test for time dependence in parameters. Journal of Applied Econometrics, 19, 899–906.
   Web of Science ®Google Scholar
• Blanchard., O. J., & Summers, L. H. (1986). Hysteresis and the European unemployment problem. NBER Macroeconomics annual. Cambridge. MA: MIT Press.
   Google Scholar
• Blanchard, O. J., & Summers, L. H. (1987). Fiscal increasing returns. hysteresis. real wages and unemployment. Eurasian Economic Review, 31, 543–560.
   Google Scholar
• Camarero., M., Carrion-i-Silvestre, J. L., & Tamarit, C. (2006). Testing for hysteresis in unemployment in OECD countries: New evidence using stationarity panel tests with breaks. Oxford Bulletin of Economics and Statistics, 68, 167–182.
   Web of Science ®Google Scholar
• Camarero, M., Carrion-i-Silvestre, J. L., & Tamarit, C. (2008). Unemployment hysteresis in transition countries: Evidence using stationarity panel tests with breaks. Review of Development Economics, 12(3), 620–635.
   Web of Science ®Google Scholar
• Camarero, M., & Tamarit, C. (2004). Hysteresis vs. natural rate of unemployment: New evidence for OECD countries. Economics Letters, 84, 413–417.
   Web of Science ®Google Scholar
• Caner, M., & Hansen, B. E. (2001). Threshold autoregression with a unit root. Econometrica, 69, 1555–1596.
   Web of Science ®Google Scholar
• Caporale, G. M., & Gil-Alana, L. A. (2007). Nonlinearities and Fractional Integration in the US Unemployment Rate. Oxford Bulletin of Economics and Statistics, 69(4), 521–544.
   Web of Science ®Google Scholar
• Caporale, G. M., & Gil-Alana, L. A. (2008). Modelling the US. UK and Japanese unemployment rates: Fractional integration and structural breaks. Computational Statistics & Data Analysis, 52, 4998–5013.
   Web of Science ®Google Scholar
• Cevik, E. I., & Dibooglu, S. (2013). Persistence and non-linearity in US unemployment: A regime-switching approach. Economic Systems, 37, 61–68.
   Web of Science ®Google Scholar
• Chang, T. (2011). Hysteresis in unemployment for 17 OECD countries: Stationary test with a Fourier function. Economic Modelling, 28, 2208–2214.
   Web of Science ®Google Scholar
• Chang, T., & Lee, C. H. (2011). Hysteresis in Unemployment for G-7 Countries: Threshold Unit Root Test. Romanian Journal of Economic Forecasting, 4, 5–14.
   Google Scholar
• Chang., T., Lee, K. C., Nieh, C. C., & Wei, C. C. (2005). An empirical note on testing hysteresis in unemployment for ten European countries: Panel SURADF approach. Applied Economics Letters, 12(14), 881–886.
   Web of Science ®Google Scholar
• Cheng., K. M., Durmaz., N., Kim, H., & Stern, M. L. (2012). Hysteresis vs. natural rate of US unemployment. Economic Modelling, 29, 428–434.
   Web of Science ®Google Scholar
• Chortareas, G., & Kapetanios, G. (2009). Getting PPP right: Identifying mean-reverting real exchange rates in panels. Journal of Banking and Finance, 33, 390–404.
   Web of Science ®Google Scholar
• Christopoulos, D. K., & Leon-Ledesma, M. A. (2010). Smooth breaks and non-linear mean reversion: Post-Bretton Woods real exchange rates. Journal of International Money and Finance, 29, 1076–1093.
   Web of Science ®Google Scholar
• Corakci., A., Emirmahmutoglu, F., & Omay, T. (2017). Re-examining the real interest rate parity hypothesis (RIPH) using panel unit root tests with asymmetry and cross-section dependence. Empirica, 44(1), 91–120.
   Web of Science ®Google Scholar
• Cuestas, J. C., & Gil-Alana, L. A. (2011). Unemployment hysteresis, structural changes, non-linearities and fractional integration in. Working Papers 2011005. European Transition Economies. http://www.shef.ac.uk/polopoly_fs/1.105369!/file/2011005.
   Google Scholar
• Dreger, C., & Reimers, H.-E. (2009). Hysteresis in the development of unemployment: The EU and US experience. Spanish Economic Review, 11, 267–276.
   Google Scholar
• Emirmahmutoglu, F., Gupta, R., Miller, M., & Omay, S. (2020). Is real per capita state personal income stationary? New nonlinear, asymmetric panel-data evidence. Bulletin of Economic Research, 72(1), 50–62.
   Web of Science ®Google Scholar
• Emirmahmutoglu, F., & Omay, T. (2014). Reexamining the PPP hypothesis: A nonlinear asymmetric heterogeneous panel unit root test. Economic Modelling, 40, 184–190.
   Web of Science ®Google Scholar
• Enders, W., & Granger, C. W. G. (1998). Unit root tests and asymmetric adjustment with and example using the term structure of interest rates. Journal of Business & Economic Statistics, 16(3), 304–311.
   Web of Science ®Google Scholar
• Enders, W., & Lee, J. (2012a). A unit root test using a fourier series to approximate smooth breaks. Oxford Bulletin of Economics and Statistics, 74(4), 574–599.
   Web of Science ®Google Scholar
• Enders, W., & Lee, J. (2012b). The flexible Fourier form and Dickey–Fuller type unit root tests. Economics Letters, 117, 196–199.
   Web of Science ®Google Scholar
• Friedman, M. (1968). The role of monetary policy. American Economic Review, 58, 1–17.
   Web of Science ®Google Scholar
• Gil-Alana, L. A. (2001). The persistence of unemployment in the USA and Europe in terms of fractionally ARIMA models. Applied Economics, 33(10), 1263–1269.
   Web of Science ®Google Scholar
• Gustavsson, M., & Osterholm, P. (2007). Does unemployment hysteresis equal employment hysteresis? The Economic Record, 83(261), 159–173.
   Web of Science ®Google Scholar
• Im., K. S., Pesaran, M. H., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53–74.
   Web of Science ®Google Scholar
• Jaeger., A., & Parkinson, M. (1994). Some evidence on hysteresis in unemployment rates. European Economic Review, 38, 329–342.
   Web of Science ®Google Scholar
• Jiang, Y., & Chang, T. (2016). Bring quantile unit root test back in testing hysteresis in unemployment for the United States. Romanian Journal of Economic Forecasting, 19(1), 5–13.
   Web of Science ®Google Scholar
• Johansen, K. (2002). Hysteresis in unemployment: Evidence from Norwegian Counties. Working Paper Series No: 6/2002. http://hdl.handle.net/11250/267195
   Google Scholar
• Kapetanios, G., Shin, Y., & Snell, A. (2003). Testing for a unit root in the nonlinear STAR framework. Journal of Econometrics, 112, 359–379.
   Web of Science ®Google Scholar
• Lee, C. C., & Chang, C. P. (2008). Unemployment hysteresis in OECD countries: Centurial time series evidence with structural breaks. Economic Modelling, 25, 312–325.
   Web of Science ®Google Scholar
• Lee, C. F. (2010). Testing for unemployment hysteresis in nonlinear heterogeneous panels: International evidence. Economic Modelling, 27, 1097–1110.
   Web of Science ®Google Scholar
• Lee., H. Y., Wu, L. J., & Lin, C. H. (2010). Hysteresis in East Asian Unemployment. Applied Economics, 42(7), 887–898.
   Web of Science ®Google Scholar
• Leon–Ledesma, M. A. (2002). Unemployment hysteresis in the US states and the EU: A panel approach. Bulletin of Economic Research, 54(2), 95–103.
   Google Scholar
• Leybourne., S., Newbold, P., & Vougas, D. (1998). Unit Roots and Smooth Transitions. Journal of Time Series Analysis, 19(1), 83–97.
   Google Scholar
• Lin., C. H., Kuon, N. F., & Yuan, C. D. (2008). Nonlinear vs. nonstationary of hysteresis in unemployment: Evidence from OECD economies. Applied Economics Letters, 15(11), 905–909.
   Web of Science ®Google Scholar
• Lindbeck, A., & Snower, D. J. (1988). The Insider–Outsider Theory of Employment and Unemployment. Cambridge. MA: MIT Press.
   Google Scholar
• Mitchell, W. F. (1993). Testing for unit roots and persistence in OECD unemployment rates. Applied Economics, 25, 1489–1501.
   Web of Science ®Google Scholar
• Mohan., R., Kemegue, F., & Sjuib, F. (2008). Hysteresis in unemployment: Panel unit root tests using state level data. Journal of Business & Economics Research, 6, 53–60.
   Google Scholar
• Omay, T. (2011). The relationship between inflation, output growth, and their uncertainties: Nonlinear Multivariate GARCH-M evidence. Economics Bulletin, AccessEcon, 31(4), 3006–3015.
   Google Scholar
• Omay, T. (2015). Fractional frequency flexible Fourier form to approximate smooth breaks in unit root testing. Economics Letters, 134, 123–126.
   Web of Science ®Google Scholar
• Omay., T., Corakci, A., & Emirmahmutoglu, F. (2017). Real interest rates: Nonlinearity and structural breaks. Empirical Economics, 52(1), 283–307.
   Web of Science ®Google Scholar
• Omay., T., Emirmahmutoglu, F., & Hasanov, M. (2018). Structural Break. Nonlinearity. and Asymmetry: A re-examination of PPP proposition. Applied Economics, 50(12), 1289–1308.
   Web of Science ®Google Scholar
• Omay., T., Hasanov, M., & Shin, Y. (2018). Testing for unit roots in dynamic panels with smooth breaks and cross-sectionally dependent errors. Computational Economics, 52(1), 167–193.
   Web of Science ®Google Scholar
• Omay., T., & Yildirim, D. (2014). Nonlinearity and smooth breaks in unit root testing. Econometrics Letters, 1(1), 2–9.
   Google Scholar
• Papell., D. H., Murray, C. J., & Ghiblawi, H. (2000). The Structure of Unemployment. The Review of Economics and Statistics, 82(2), 309–315.
   Web of Science ®Google Scholar
• Phelps, E. S. (1967). Phillips curves. expectations of inflation and optimal unemployment over time. Economica, 34, 254–281.
   Web of Science ®Google Scholar
• Phelps, E. S. (1994). Structural Slumps – The Modern Theory of Unemployment. Interest and Assets. Cambridge. MA: Harvard University Press.
   Google Scholar
• Roed, K. (1996). Unemployment hysteresis – Macroevidence from 16 OECD countries. Empirical Economics, 21, 589–600.
   Google Scholar
• Romero-Avila, D., & Usabiaga, C. (2007). Unit root test. persistence. and the unemployment rate of the U.S. states. Southern Economic Journal, 73, 698–716.
   Web of Science ®Google Scholar
• Romero-Avila, D., & Usabiaga, C. (2009). The unemployment paradigms revisited: A comparative analysis of U.S. State and European unemployment. Contemporary Economic Policy, Western Economic Association International, 27(3), 321–334.
   Web of Science ®Google Scholar
• Sephton, P. S. (2009). Persistence in U.S. State Unemployment Rates. Southern Economic Journal, 76(2), 458–466.
   Web of Science ®Google Scholar
• Sollis, R. (2009). A simple unit root test against asymmetric STAR nonlinearity with an application to real exchange rates in Nordic countries. Economic Modelling, 26, 118–125.
   Web of Science ®Google Scholar
• Song, F. M., & Wu, Y. (1997). Hysteresis in unemployment: Evidence from 48 U.S. states. Economic Inquiry, 35, 235–243.
   Web of Science ®Google Scholar
• Song, F. M., & Wu, Y. (1998). Hysteresis in unemployment: Evidence from OECD Countries. The Quarterly Review of Economics and Finance, 38(2), 181–192.
   Google Scholar
• Srinivasan, N., & Mitra, P. (2016). Interwar unemployment in the UK and the US: Old and new evidence (2016). South Asian Journal of Macroeconomics and Public Finance, 5(1), 96–112.
   Google Scholar
• Taylor, M. P., & Sarno, L. (1998). The behavior of real exchange rates during the post Bretton Woods period. Journal of International Economics, 46, 281–312.
   Web of Science ®Google Scholar
• Ucar, N., & Omay, T. (2009). Testing for unit root in nonlinear heterogeneous panels. Economics Letters, 104(1), 5–8.
   Web of Science ®Google Scholar
• Yilanci, V. (2008). Are unemployment rates nonstationary or nonlinear? Evidence from 19 OECD countries. Economics Bulletin, 3(47), 1–5.
   Google Scholar