Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/159741
Autoren: 
Bakas, Dimitrios
Panagiotidis, Theodore
Pelloni, Gianluigi
Datum: 
2013
Reihe/Nr.: 
Quaderni - Working Paper DSE 902
Zusammenfassung: 
This paper re-examines Lilien's sectoral shifts hypothesis for U.S. unemployment. We employ a monthly panel that spans from 1990:01 to 2011:12 for 48 U.S. states. Panel unit root tests that allow for crosssectional dependence reveal the stationarity of unemployment. Within a framework that takes into account dynamics, parameter heterogeneity and cross-sectional dependence in the panel, we show that sectoral reallocation is significant not only at the aggregate level but also at the state level. The magnitude and the statistical significance of the latter as measured by Lilien's index increases when both heterogeneity and cross-sectional dependence are taken into account.
JEL: 
C33
E24
E32
J21
R23
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
https://creativecommons.org/licenses/by-nc/3.0/
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.9 MB





Publikationen in EconStor sind urheberrechtlich geschützt.