| 1. |
- Khraief, Naceur, et al.
(författare)
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Are unemployment rates in OECD countries stationary? Evidence from univariate and panel unit root tests
- 2020
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Ingår i: The North American journal of economics and finance. - : Elsevier. - 1062-9408 .- 1879-0860. ; 51
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Tidskriftsartikel (refereegranskat)abstract
- This paper revisits the dynamics of unemployment rate for 29 OECD countries over the period of 1980–2013. Numerous empirical studies of the dynamics of unemployment rate are carried out within a linear framework. However, unemployment rate can show nonlinear behaviour as a result of business cycles or some idiosyncratic factors specific to labour market (Cancelo, 2007). Thus, as a testing strategy, we first perform Harvey, Leybourne, and Xiao (2008) linearity unit root test and then apply the newly ESTAR nonlinear unit root test suggested by Kruse (2011). This test has higher power than conventional unit root tests when time series exhibits nonlinear behaviour. Our empirical findings provide significant evidence in favour of unemployment rate stationarity for 25 countries. For robustness purpose, we have also used panel unit root tests without and with structural breaks. The empirical results show that unemployment hysteresis hypothesis is strongly rejected, when taking into account the cross-sectional and structural break assumptions. Thus, unemployment rate is expected to return back to their natural levels without executing any costly macroeconomic labour market policies by the OECD's governments.
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| 2. |
- Shahbaz, Muhammad, et al.
(författare)
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Environmental Kuznets curve in an open economy: A bounds testing and causality analysis for Tunisia
- 2014
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Ingår i: Renewable & sustainable energy reviews. - : Elsevier. - 1364-0321 .- 1879-0690. ; 34, s. 325-336
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Forskningsöversikt (refereegranskat)abstract
- The environmental Kuznets curve hypothesis posits that in the early stages of economic growth environmental degradation and pollution increase. However, as a nation reaches a certain level of income, measured in per capita terms, the trend reverses. The postulated relationship thus produces an inverted U-shaped curve. The topic has drawn much academic interest in the context of developed and emerging nations. The aim of this paper is to investigate the existence of environmental Kuznets curve (EKC) in case of Tunisia using annual time series data for the period of 1971-2010. The ARDL bounds testing approach to cointegration is applied to test long run relationship in the presence of structural breaks and vector error correction model (VECM) to detect the direction of causality among the variables. The robustness of causality analysis has been tested by applying the innovative accounting approach (IAA). The findings of this paper confirmed long run relationship between economic growth, energy consumption, trade openness and CO2 emissions. The results also indicated the existence of EKC confirmed by the VECM and IAA approaches. The study has significant contribution for policy implications to curtail energy pollutants by implementing environment friendly regulations to sustain economic development in Tunisia.
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