Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/108601 
Year of Publication: 
2012
Series/Report no.: 
Working Paper No. 1223
Publisher: 
Koç University-TÜSİAD Economic Research Forum (ERF), Istanbul
Abstract: 
This paper shows that the structural breaks are an important characteristic of the monthly labor force participation rate (LFPR) series of Australia, Canada and the USA. Therefore we allow for endogenously determined multiple structural breaks in the empirical specifications of fractionally integrated ARMA model. The findings indicate that contrary to the previous research the LFPRs of Australia, Canada and the USA are stationary implying that the informational value of the unemployment rates about the behavior of labor markets and the causes of joblessness are useful.
Subjects: 
Labor Force Participation Rates
Structural Change
Stationarity
JEL: 
C22
E24
J21
Document Type: 
Working Paper

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