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- W1841651914 abstract "The non-stationarity of many macroeconomic time-series has concerned economists in recent years. This finding is especially puzzling for unemployment rates and has also been named hysteresis. The implication of hysteresis is that once the impulses that have caused a changed in unemployment disappear, unemployment persists at the level reached during the operation of the shocks. Although hysteresis in its strict form implies a unit root in the level process, some authors also include models which are characterized by shocks that die out slowly. (For some overview of the literature see Cross .) We do not follow this method here, but restrict our attention to hysteresis or persistence of time-series that imply an infinite memory of an impulse." @default.
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- W1841651914 date "1994-01-01" @default.
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- W1841651914 title "Illusive Persistence in German Unemployment" @default.
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- W1841651914 doi "https://doi.org/10.1007/978-3-642-57989-9_12" @default.
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