Pokaż uproszczony rekord

Is There A Stable Long-run Relationship Between Unemployment And Productivity? / Czy Istnieje Stabilny Długookresowy Związek Między Bezrobociem A Produktywnością?

dc.contributor.authorJalles, João Tovaren
dc.date.accessioned2015-08-11T11:35:17Z
dc.date.available2015-08-11T11:35:17Z
dc.date.issued2015-06-16en
dc.identifier.issn1508-2008en
dc.identifier.urihttp://hdl.handle.net/11089/11470
dc.description.abstractThis paper assesses whether productivity and unemployment have a stable long-run relationship. We explore a panel of 19 OECD countries between 1970 and 2012 and rely on recently developed time series econometric methods. Our findings suggest that unemployment and productivity are non-stationary in levels and in many individual cases these series are cointegrated, even after accounting for possible structural breaks. For many individual countries the long-run effect seems to be generally positive. There is also evidence of two-way causality, but the stronger directional relationship runs from unemployment to productivity.en
dc.description.abstractArtykuł jest próbą ustalenia czy istnieje stabilny długookresowy związek między produktywnością a bezrobociem, Badania obejmują dane dotyczące 19 państw OECD, pochodzące z lat 1970-2012 i są oparte o najnowsze ekonometryczne metody analizy szeregów czasowych. Wyniki badań wskazują, że poziomy bezrobocia i produktywności cechują się niestacjonarnością a w licznych indywidualnych przypadkach szeregi te są skointegrowane, nawet po uwzględnieniu możliwych załamań strukturalnych. W przypadku wielu indywidualnych państw efekty długoterminowe wydają się być generalnie pozytywne. Istnieją również dowody występowania przyczynowości dwukierunkowej, ale silniejszy ukierunkowany związek zachodzi między bezrobociem a produktywnością.en
dc.publisherWydawnictwo Uniwersytetu Łódzkiegoen
dc.relation.ispartofseriesComparative Economic Research;18en
dc.rightsThis work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.en
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/en
dc.subjectstationarityen
dc.subjectstructural breaksen
dc.subjectcointegrationen
dc.subjectDOLSen
dc.subjectGranger causalityen
dc.subjectstacjonarnośćen
dc.subjectzałamania strukturalneen
dc.subjectkointegracjaen
dc.subjectDOLSen
dc.subjectprzyczynowość w sensie Grangeraen
dc.titleIs There A Stable Long-run Relationship Between Unemployment And Productivity? / Czy Istnieje Stabilny Długookresowy Związek Między Bezrobociem A Produktywnością?en
dc.page.number57-75en
dc.contributor.authorAffiliationCenter for Globalization and Governance, Nova School of Business and Economics, Portugalen
dc.referencesBarnichon, R. (2010), Productivity and Unemployment over the Business Cycle, ʻJournal of Monetary Economicsʼ, 57(8), 1013-1025.en
dc.referencesBean, C. and Pissarides, C. (1993), Unemployment, consumption and growth, ʻEuropean Economic Reviewʼ, 37, 837-64.en
dc.referencesBeaudreau, B. C. (1998), Energy and organization: Growth and distribution re-examined, Contributions in economics and economic history. Wesport, Conn. and London: Greenwood Press.en
dc.referencesBowman, P. J. (1991), Work life, [in:] J. S. Jackson (Ed.), Life in black America (pp. 124-155). Newbury Park, CA: Sage.en
dc.referencesBrauninger, M. and Pannenber, M. (2002), Unemployment and Productivity Growth: An Empirical Analysis within the Augmented Solow model, ʻEconomic Modellingʼ, 19, 105-120.en
dc.referencesCaballero, R. (1993), Comment on Bean and Pissarides, ʻEuropean Economic Reviewʼ, 37, 855-59.en
dc.referencesCaballero, R. and Hammour, M. (1994), The cleansing effect of recession, ʻAmerican Economic Reviewʼ, 84, 1075-84.en
dc.referencesClemente, J., Montañés, A., and Reyes, M. (1998), Testing for a unit root in variables with a double change in the mean, ʻEconomics Lettersʼ, 59, pp.175-182.en
dc.referencesDolato, J., Lutkepohl, H. (1996), Making Wald test work for cointegrated VAR systems, ʻEconometrics Reviewʼ, 15, 369-386.en
dc.referencesDolmas, J., Raj, B., and Slottje, D. (1999), The U.S. productivity slowdown: A peak through the structural break window, ʻEconomic Inquiryʼ, 37, 226-241.en
dc.referencesFichtembaum, R. (1989), The productivity slowdown and the underground economy, ʻQuarterly Journal of Business and Economicsʼ, 28, 78-90.en
dc.referencesFisher, S. (1988), Symposium on the slowdown in productivity growth, ʻJournal of Economic Perspectivesʼ, 2, 3-7.en
dc.referencesGali, J. (1999), Technology, employment and the business cycle: do technology shocks explain aggregate fluctuations?, ʻAmerican Economic Reviewʼ, 89 (1), 249-271.en
dc.referencesGali, J., Gambetti, L. (2009), On the sources of the great moderation, ʻAmerican Economic Journal: Macroeconomicsʼ, 1(1), 26-57.en
dc.referencesGordon, R. J. (1996), Problems in the measurement and performance of service-sector productivity in the United States, NBER working paper no. 5519.en
dc.referencesGranger, C. (1969), Investigating causal relations by econometric models and cross-spectral methods, ʻEconometricaʼ, 37, 424-38.en
dc.referencesGregory, A. W., and B. E. Hansen, (1996), Residual-based tests for cointegration in models with regime shifts, ʻJournal of Econometricsʼ, 70(1).en
dc.referencesGriliches, Z. (1988), Productivity puzzles and R&D: Another non-explanation, ʻJournal of Economic Perspectivesʼ, 2, 9-22.en
dc.referencesGriliches Z. (1994), Productivity, R&D and the data constraint, Presidential address at the one-hundred sixth meeting of the American Economic Association. American Economic Review, 84, 1-23.en
dc.referencesHansen H. and Johansen S. (1993), Recursive Estimation in Cointegrated VAR-Models, Mimeo. Institute of Mathematical Statistics, University of Copenhagen.en
dc.referencesHolly S., Petrella. I. (2008), Factor demand linkages and the business cycle: interpreting aggregate fluctuations as sectoral fluctuations, Working Paper.en
dc.referencesJohansen S. and Juselius K. (1990), Maximum Likelihood Estimation and Inference on Cointegration - with Applications to the Demand for Money, Oxford Bulletin of Economics and Statistics 52, 169-210.en
dc.referencesKing R. G. and Rebelo S. (1988), Business cycles with endogenous growth, mimeo, University of Rochester.en
dc.referencesMuscatelli, V. And Tirelli, P. (2001), Unemployment and growth: some empirical evidence from structural time series models, ʻApplied Economicsʼ, 33, 1083-1088.en
dc.referencesNg S., and Perron P. (2001). Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power,ʻ Econometricaʼ, 69, 1519-1554.en
dc.referencesPerron P. (1989), The great crash, the oil price shock, and the unit root hypothesis, ʻEconometricaʼ, 57, 1361-1401.en
dc.referencesPerron P., and T. Yabu (2009), Tests for shifts in trend with an integrated or stationary noise component, ʻJournal of Business & Economic Statisticsʼ, 27, 369-396.en
dc.referencesRambaldi A.N. and Doran H. E. (1996), Testing for Granger non-causality in Cointegrated System made easy, ʻWorking Papers in Econometrics and Applied Statisticsʼ, No. 88, Department of Econometrics, University of New England.en
dc.referencesRomer P. M. (1987), Crazy explanations for the productivity slowdown, [in:] Stanley Fisher (Ed.), NBER macroeconomics annual 1987. Cambridge: The MIT Press.en
dc.referencesSaint-Paul G. (1997), Business cycles and long-run growth, CEPR Discussion paper no. 1642.en
dc.referencesShin Y. (1994), A Residual-based Test of the Null of Cointegration against the Alternative of no Cointegration, ʻEconometric Theoryʼ, 10, 91-115.en
dc.referencesStadler G. W. (1990), Business cycle models with endogenous technology, ʻAmerican Economic Reviewʼ, 80, 763-78.en
dc.referencesStiglitz J. (1993), Endogenous growth and cycles, NBER Working Paper no. 4286, April.en
dc.referencesStock J. and M. Watson, (1993), A simple estimator of cointegrating vectors in higher order integrated systems, ʻEconometricaʼ, 61(4), 783-820.en
dc.referencesToda H and P. Phillips (1994), Vector autorgression and causality: A theoretical overview and simulation study, ʻEconometric Reviewʼ, 13, 259-85.en
dc.referencesToda H. and Yamamoto T. (1995), Statistical inference in vector autoregressions with possibly integrated processes, ʻJournal of Econometricsʼ, 66, 225--250.en
dc.referencesVogelsang T. and Perron P. (1998), Additional Tests for a Unit Root Allowing for a Break in the Trend Function at an Unknown Time, ʻInternational Economic Reviewʼ, 39(4), 1073-1100. ThomsonISI: http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000263491000001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=b7bc2757938ac7a7a821505f8243d9f3en
dc.referencesVogelsang T. (2001), Testing for a Shift in Trend When Serial Correlation is of Unknown Form, Unpublished Manuscript, Department of Economics, Cornell University.en
dc.referencesWalker John F. and Vatter H. (1989), Why has the United States operated below potential since World War II?, ʻJournal of Post Keynesian Economicsʼ, 11(3), 327-346.en
dc.referencesWeisskopt T. E. (1987), The effect of unemployment on labor productivity: an international comparative analysis, ʻInternational Review of Applied Economicsʼ, 1, 127-151.en
dc.referencesWeisskopt T. E., Bowles S. and Gordon D. M. (1983), Hearts and minds: a social model of U.S. productivity growth, ʻBrookings Papers on Economic Activityʼ, 381-441.en
dc.referencesZivot E. and Andrews D. W. K. (1992), Further Evidence on the Great Crash, the Oil-Price Shock and the Unit Root Hypothesis, ʻJournal of Business and Economic Statisticsʼ, 10, 251-270.en
dc.identifier.doi10.1515/cer-2015-0012en


Pliki tej pozycji

Thumbnail
Nazwa:
cer-2015-0012.pdf
Rozmiar:
164.4KB
Format:
PDF
Oglądaj/Otwórz

Pozycja umieszczona jest w następujących kolekcjach

Pokaż uproszczony rekord

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.
Poza zaznaczonymi wyjątkami, licencja tej pozycji opisana jest jako This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.