Pregled bibliografske jedinice broj: 951622
Persistence and stochastic convergence of euro area unemployment rates
Persistence and stochastic convergence of euro area unemployment rates // Economic modelling, 76 (2019), 192-198 doi:10.1016/j.econmod.2018.07.032 (međunarodna recenzija, članak, znanstveni)
CROSBI ID: 951622 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Persistence and stochastic convergence of euro area unemployment rates
Autori
Raguž Krištić, Irena ; Rogić Dumančić, Lucija ; Arčabić, Vladimir
Izvornik
Economic modelling (0264-9993) 76
(2019);
192-198
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
Unemployment ; Euro area ; Hysteresis ; Stochastic convergence ; Unit root ; Structural breaks
Sažetak
This paper analyzes unemployment rates in the euro area (EA) countries to test for EA-related benefits and economic integration of the EA in the form of lower unemployment rates and unemployment rates convergence. We employ recently developed unit root tests with structural breaks and non-normal errors to analyze the persistence, test the stochastic convergence and locate structural break(s) in EA unemployment rates from 1995q1 to 2016q2. Our results imply a certain degree of unemployment hysteresis in the EA. Even though the results support the stochastic convergence of the majority of EA countries, we find that EA membership is not a sufficient condition for stochastic convergence. Nevertheless, EA- related breaks are followed by the periods of convergence to the EA11 average. Crisis-related breaks are followed by the periods of divergence. Although providing initial benefits, EA is not functioning as an optimal currency area.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
POVEZANOST RADA
Projekti:
HRZZ-IP-2014-09-5476 - Uloga strukturnih reformi u poticanju vanjske konkurentnosti zemalja Europske unije (ROSPEC) (Cota, Boris, HRZZ - 2014-09) ( CroRIS)
UIP-2017-05-6785 - Osnivanje i razvoj Centra za strukturno i nelinearno makroekonomsko modeliranje (MacroHub) (MACROHUB) (Globan, Tomislav, HRZZ - 2017-05) ( CroRIS)
Ustanove:
Ekonomski fakultet, Zagreb
Citiraj ovu publikaciju:
Časopis indeksira:
- Current Contents Connect (CCC)
- Web of Science Core Collection (WoSCC)
- Social Science Citation Index (SSCI)
- SCI-EXP, SSCI i/ili A&HCI
- Scopus
- EconLit