The Unemployment Invariant Hypothesis: Heterogeneous Panel Cointegration Evidence from U.S. State Level Data
We explore the long-run relationship between the unemployment rate and the labor force participation rates for United States over the period of 1976 to 2015. We use U.S. state level data and panel cointegration techniques that are robust to cross sectional heterogeneity, cross-sectional dependency,...
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| Format: | Article |
| Language: | English |
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EconJournals
2017-01-01
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| Series: | International Journal of Economics and Financial Issues |
| Online Access: | http://mail.econjournals.com/index.php/ijefi/article/view/3239 |