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EXTERNAL SHOCKS, STRUCTURAL BREAKS AND UNEMPLOYMENT HYSTERESIS IN SELECTED ASIAN COUNTRIES

机译:某些亚洲国家的外部冲击,结构断裂和失业滞后

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摘要

This paper re-examines the hypothesis of unemployment hysteresis using panel data for 11 Asian countries for the period from 1980 to 2008. This study employs a variety of panel data unit root tests recently advanced by Bai and Ng (2004), Pesaran (2007) and Chang and Song (2009). The advantage of these tests is that they are able to exploit the cross-section variations of the series. In addition to these tests, a new powerful panel stationarity test proposed by Carrion-i-Silvestre et al. (2005) is applied which exploits the cross-section variations of the series and also allows for different numbers of endogenous breakpoints in the series. Our findings stress the importance of accounting exogenous shocks in the series and provide stronger evidence against the hypothesis of unemployment hysteresis for the countries analyzed. We also discover critical economic affairs which may cause the unemployment rates to fluctuate significantly. Policy implications are proposed through our observations.
机译:本文使用1980年至2008年期间11个亚洲国家的面板数据重新检验了失业滞后的假设。本研究采用了Bai和Ng(2004),Pesaran(2007)最近提出的各种面板数据单位根检验。以及Chang and Song(2009)。这些测试的优势在于它们能够利用该系列的横截面变化。除了这些测试之外,Carrion-i-Silvestre等人还提出了一项新的功能强大的面板平稳性测试。 (2005年)应用,利用了该系列的横截面变化,也允许该系列中不同数量的内源性断点。我们的发现强调了在该系列中会计外生冲击的重要性,并为所分析的国家提供了针对失业滞后假说的有力证据。我们还发现重要的经济事务可能会导致失业率大幅波动。政策含义是通过我们的观察提出的。

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