Economics, Econometrics and Finance
8 years ago

Unemployment in Transition Countries Linked to Shifting Natural Rate Hypothesis

Review of Development Economics
Unemployment Hysteresis in Transition Countries: Evidence using Stationarity Panel Tests with Breaks
Mariam Camarero, Josep Lluís Carrion‐i‐Silvestre, Cecilio Tamarit

Paper Summary

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The study looked at unemployment in transition countries from 1991 to 2003. They used special tests to see if unemployment rates stay high after economic shocks or return to normal. The results show that external events can affect unemployment rates, and suggest that the natural rate of unemployment can change over time in these countries.