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The Natural Rate, Hysteresis, and the Duration Composition of Unemployment in the U.S.

Rod Cross et al.

Quarterly Journal of Finance and Accounting2016article
ABDC B
Weight
0.46

What the paper says

This paper compares the natural rate and hysteresis accounts of equilibrium unemployment. The contrasting implications of the two hypotheses regarding the duration composition of unemployment are discussed, and cointegration tests are performed to see whether a tendency to converge on a unique ratio of long-term to total unemployment is evident in U.S. data 1959:1-1987:11. The results indicate that no such tendency is present, in violation of the natural rate hypothesis and in support of the hysteresis account of equilibrium unemployment.

8 citations

Cite this paper

@article{rod2016,
  title        = {{The Natural Rate, Hysteresis, and the Duration Composition of Unemployment in the U.S.}},
  author       = {Rod Cross et al.},
  journal      = {Quarterly Journal of Finance and Accounting},
  year         = {2016},
}

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The Natural Rate, Hysteresis, and the Duration Composition of Unemployment in the U.S.

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Evidence weight

0.46

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.36 × 0.4 = 0.14
M · momentum0.60 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.