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Journals / Maliye Dergisi / 2019 / Sayı: 176

An Empirical Analysis of Unemployment Hysteresis and Natural Rate Hypothesis for the Developed and Developing Countries

Gelişmiş ve Gelişmekte Olan Ülkelerde İşsizlik Histeresi ve Doğal Oran Hipotezinin Ampirik Bir Analizi

Süleyman BOLAT
Özgür KOÇBULUT
Pages
201–224
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the results of the analysis, it is concluded that the unemployment series are stable in all countries.

📌 3 Key Takeaways

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Objective & Hypothesis:This study tests the validity of the hysteresis of unemployment rate for 37 developed and developing countries over the period 1993-2016 using the Sequential Panel Selection Method (SPSM) among nonlinear panel unit root tests and a nonlinear panel unit root test developed by Ucar and Omay (2009) with a Fourier function.
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Key Findings & Data:According to the test results, 37 developed and developing countries are in a stationary process.
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Conclusion & Impact:According to the results of the analysis, it is concluded that the unemployment series are stable in all countries.
🔬Design:Research Article
📍Scope:2016 Verileri
⚙️Variables:Domain Parameters

Abstract

This study tests the validity of the hysteresis of unemployment rate for 37 developed and developing countries over the period 1993-2016 using the Sequential Panel Selection Method (SPSM) among nonlinear panel unit root tests and a nonlinear panel unit root test developed by Ucar and Omay (2009) with a Fourier function. According to the test results, 37 developed and developing countries are in a stationary process. The Panel KSS unit root tests with a Fourier function have shown long-term evidence in favour of 37 countries. According to the results of the analysis, it is concluded that the unemployment series are stable in all countries. This result is important in terms of the determination of long-term analysis in developed and developing countries.

Özet

Çalışma, 37 gelişmiş ve gelişmekte olan ülkede 1993-2016 döneminde doğrusal olmayan panel birim kök testlerinden Sıralı Panel Seçim Yöntemi (SPSM) ve Uçar ve Omay (2009) tarafından geliştirilen Fourier fonksiyonlu doğrusal olmayan panel birim kök testlerini kullanarak işsizlik histeresinin geçerliliğini test etmektedir. 37 gelişmiş ve gelişmekte olan ülke için durağanlık sonucuna ulaşılmıştır. Fourier fonksiyonlu panel KSS birim kök testleri, 37 ülke lehinde uzun dönemli güçlü/önemli kanıtlar ortaya koymuştur. Analizden elde edilen sonuca göre tüm ülkelerde işsizlik serisinin durağan olduğu sonucuna ulaşılmıştır. Bu sonuç gelişmiş ve gelişmekte olan ülkeler açısından uzun dönemli analizlerin belirlenmesi bakımından önem taşımaktadır.

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Cite This Article

BOLAT, S., KOÇBULUT, Ö. (2019). An Empirical Analysis of Unemployment Hysteresis and Natural Rate Hypothesis for the Developed and Developing Countries. Maliye Dergisi, Sayı: 176, 201–224. https://ajindex.com/articles/78814

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