Detalle Publicación

ARTÍCULO
Unemployment in Africa: A Fractional Integration Approach
Autores: Caporale, G. M. (Autor de correspondencia); Gil Alaña, Luis Alberiko
Título de la revista: SOUTH AFRICAN JOURNAL OF ECONOMICS
ISSN: 0038-2280
Volumen: 86
Número: 1
Páginas: 76 - 81
Fecha de publicación: 2018
Lugar: WOS
Resumen:
This paper estimates long-memory models to analyse the stochastic behaviour of unemployment in eleven African countries (Botswana, Ethiopia, Ghana, Kenya, Malawi, Mauritius, Nigeria, Senegal, South Africa, Tanzania and Zambia) from the 1960s until 2010. The empirical results provide very strong evidence of lack of mean reversion in all series under examination. This suggests that hysteresis models are the most relevant for the African experience (not surprisingly, given the rigidities in their labour markets). Therefore in such countries shocks hitting the unemployment series will have permanent effects, and policy makers should take appropriate action to reverse the effects of negative shocks.