Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/82602
Authors: 
Gustavsson, Magnus
Österholm, Pär
Year of Publication: 
2010
Series/Report no.: 
Working Paper, Department of Economics, Uppsala University 2010:14
Abstract: 
The informational value of the aggregate US unemployment rate has recently been questioned because of a unit root in the labor-force participation rate; the lack of mean reversion implies that long-run changes in unemployment rates are highly unlikely to reflect long-run changes in joblessness. This paper shows that this critique also extends to unemployment rates for sub-populations, such as prime-aged males.
Subjects: 
Mean reversion
Unit-root test
JEL: 
C22
E24
J21
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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