| Journal: | Journal of applied economics |
| Database: | CLASE |
| System number: | 000401731 |
| ISSN: | 1667-6726 |
| Authors: | Ayala, Astrid1 Cuñado, Juncal2 Gil Alana, Luis Albériko2 |
| Institutions: | 1Universidad Francisco Marroquín, Ciudad de Guatemala. Guatemala 2Universidad de Navarra, Pamplona, Navarra. España |
| Year: | 2012 |
| Season: | Nov |
| Volumen: | 15 |
| Number: | 2 |
| Pages: | 213-233 |
| Country: | Argentina |
| Language: | Inglés |
| Document type: | Artículo |
| Approach: | Analítico, descriptivo |
| English abstract | This paper analyzes the unemployment dynamics of 18 Latin American countries for the last four decades. We use a time series approach to test the mean reversion of unemployment rates and its approximation to a Natural Rate of Unemployment (NRU). The tests include the possibility of one and two structural changes to account for the occurrence of significant macroeconomic changes experienced by the Latin American economies. In addition, we estimate the order of integration of the series, allowing for fractional degrees of differentiation, to assess the persistence of unemployment in the region. Our results indicate that when endogenous structural changes are included in the model, in general we find evidence of mean reversion of unemployment rates for the Latin American countries under study. Therefore, our findings support the structuralist hypothesis of unemployment |
| Disciplines: | Economía |
| Keyword: | Economía del trabajo, América Latina, Desempleo, Economía regional, Histéresis laboral, Cambios estructurales |
| Full text: | Texto completo (Ver PDF) |
