Spanish Regional Unemployment Disentangling the Sources of Hysteresis /

This work investigates the time series properties of the unemployment rate of the Spanish regions over the period 1976-2011. For that purpose, the authors employ the PANIC procedures of Bai and Ng (2004), which allows to decompose the observed unemployment rate series into common factor and idiosync...

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Κύριοι συγγραφείς: García-Cintado, Alejandro (Συγγραφέας), Romero-Ávila, Diego (Συγγραφέας), Usabiaga, Carlos (Συγγραφέας)
Συγγραφή απο Οργανισμό/Αρχή: SpringerLink (Online service)
Μορφή: Ηλεκτρονική πηγή Ηλ. βιβλίο
Γλώσσα:English
Έκδοση: Cham : Springer International Publishing : Imprint: Springer, 2014.
Σειρά:SpringerBriefs in Economics,
Θέματα:
Διαθέσιμο Online:Full Text via HEAL-Link
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001 978-3-319-03686-1
003 DE-He213
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072 7 |a BUS038000  |2 bisacsh 
082 0 4 |a 331  |2 23 
100 1 |a García-Cintado, Alejandro.  |e author. 
245 1 0 |a Spanish Regional Unemployment  |h [electronic resource] :  |b Disentangling the Sources of Hysteresis /  |c by Alejandro García-Cintado, Diego Romero-Ávila, Carlos Usabiaga. 
264 1 |a Cham :  |b Springer International Publishing :  |b Imprint: Springer,  |c 2014. 
300 |a IX, 68 p. 3 illus.  |b online resource. 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
347 |a text file  |b PDF  |2 rda 
490 1 |a SpringerBriefs in Economics,  |x 2191-5504 
505 0 |a Introduction -- PANIC Analysis of Spanish Regional Unemployment -- Explaining the Common Stochastic Trend in Spanish Regional Unemployment: Granger-Causality Analysis -- Policy Considerations Drawn from Our Results -- Concluding Remarks -- Appendix. 
520 |a This work investigates the time series properties of the unemployment rate of the Spanish regions over the period 1976-2011. For that purpose, the authors employ the PANIC procedures of Bai and Ng (2004), which allows to decompose the observed unemployment rate series into common factor and idiosyncratic components. This enables the authors to identify the exact source behind the hysteretic behaviour found in Spanish regional unemployment. Overall, the analysis with three different proxies for the excess of labour supply renders strong support for the hysteresis hypothesis, which appears to be caused by a common stochastic trend driving all the regional unemployment series. In the second part of the analysis the authors try to determine the macroeconomic and institutional factors that are able to explain the time series evolution of the common factor, and in turn help us shed light on the ultimate sources of hysteresis. The reader shall see how the variables that the empirical analysis emphasises as relevant closely fit into the main causes of the Spanish unemployment behaviour. Finally, some policy considerations drawn from the results are presented. 
650 0 |a Macroeconomics. 
650 0 |a Economic policy. 
650 0 |a Labor economics. 
650 0 |a Regional economics. 
650 0 |a Spatial economics. 
650 1 4 |a Economics. 
650 2 4 |a Labor Economics. 
650 2 4 |a Macroeconomics/Monetary Economics//Financial Economics. 
650 2 4 |a Economic Policy. 
650 2 4 |a Regional/Spatial Science. 
700 1 |a Romero-Ávila, Diego.  |e author. 
700 1 |a Usabiaga, Carlos.  |e author. 
710 2 |a SpringerLink (Online service) 
773 0 |t Springer eBooks 
776 0 8 |i Printed edition:  |z 9783319036854 
830 0 |a SpringerBriefs in Economics,  |x 2191-5504 
856 4 0 |u http://dx.doi.org/10.1007/978-3-319-03686-1  |z Full Text via HEAL-Link 
912 |a ZDB-2-SBE 
950 |a Business and Economics (Springer-11643)