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dc.contributor.authorHolmes, Mark J.
dc.contributor.authorOtero, Jesús
dc.contributor.authorPanagiotidis, Theodore
dc.date.accessioned2013-10-30T02:06:41Z
dc.date.available2013-10-30T02:06:41Z
dc.date.issued2013
dc.identifier.citationHolmes, M. J., Otero, J., & Panagiotidis, T. (2013). Modelling the behaviour of unemployment rates in the US over time and across space. Physical A: Statistical Mechanics and its Applications, 392(22), 5711-5722.en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/8126
dc.description.abstractThis paper provides evidence that unemployment rates across US states are stationary and therefore behave according to the natural rate hypothesis. We provide new insights by considering the effect of key variables on the speed of adjustment associated with unemployment shocks. A highly-dimensional VAR analysis of the half-lives associated with shocks to unemployment rates in pairs of states suggests that the distance between states and vacancy rates respectively exert a positive and negative influence. We find that higher homeownership rates do not lead to higher half-lives. When the symmetry assumption is relaxed through quantile regression, support for the Oswald hypothesis through a positive relationship between homeownership rates and half-lives is found at the higher quantiles.en_NZ
dc.language.isoenen_NZ
dc.publisherElsevieren_NZ
dc.relation.urihttp://www.sciencedirect.com/science/article/pii/S037843711300633Xen_NZ
dc.subjectunemploymenten_NZ
dc.subjectunemploymenten_NZ
dc.subjectspeed of adjustmenten_NZ
dc.titleModelling the behaviour of unemployment rates in the US over time and across spaceen_NZ
dc.typeJournal Articleen_NZ
dc.identifier.doi10.1016/j.physa.2013.07.023en_NZ
dc.relation.isPartOfPhysica A: Statistical Mechanics and its Applicationsen_NZ
pubs.begin-page5711en_NZ
pubs.elements-id38869
pubs.end-page5722en_NZ
pubs.issue22en_NZ
pubs.volume392en_NZ


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